Preparations Underway for Next Year’s State Budget

It was just a few months ago in June that Gov. Jay Nixon approved a state budget for the current fiscal year that began on July 1, but efforts are already underway to prepare for the FY 2014 budget.

Oct. 1 was the deadline for state departments to submit their budget requests to the Office of Administration for the next fiscal year. It is from the department budgets that the governor prepares an executive budget that is presented to the general assembly in mid-January.

Since Missouri is required by law to balance its budget, the state cannot spend more than the revenue it brings in. Over the next months the Office of Budget and Planning will be reviewing Missouri’s income sources to develop consensus revenue numbers to use in the FY 2014 budget that is presented to the general assembly.

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