Budget Trends Study Commission

A couple of interesting points that came out of the Budget Trends Study Commission, which is trying to improve the state’s long term fiscal health.

The report I received via email was pretty long, but I like this especially:

The Commission suggests numerous changes to the current forecasting and budgeting processes to smooth out the peaks and valleys we have been experiencing. Recommendations include using one-time surpluses strictly for one-time purposes (like rebuilding the reserves), ensuring that the budget is balanced in the current and following biennium, analyzing trend lines in revenues to temper overly optimistic economic forecasts, and avoiding permanent tax cuts or spending increases unless reserves are filled and shifts have been bought back.

What we need to do is get through this tough time right now, and set a course in the future that will stabilize our finances. Seems simple, and makes a whole lot of common sense.

The other suggestions that really stuck with me was stabilizing healthcare costs and ensuring the next generation is educated at a high enough level to take over for the baby boomers.

Good stuff.