Page 17 - The Edge - Winter 2017
P. 17
2016 LEGISLATIVE CONFERENCE
BY DON HARRIS
An Expert’s View of School Funding —
Some Good and Bad News
Steve Schimpp
There is some good budget news, but not a lot, according to balance. In other words, it’s like we’ve got some cash, but we’re
a top financial analyst for the Arizona Legislature. not going to spend it all and we can’t spend it on things that
At a Legislative Conference on Nov. 18, Steve Schimpp, will recur year-after year because that’s one-time cash. What
Deputy Director of the Joint Legislative Budget Committee, that suggests is the Legislature can afford to spend $24 million
provided school officials with a forecast (subject to change) on something they can continue to spend on not just for 2018,
for upcoming fiscal year 2018 and a look farther ahead to FY but 2019, 2020 and beyond. It’s unfortunately a relatively small
19 and FY 20. amount of money, but at least it’s a positive number.”
“We’re doing OK, but as you follow the news these past Arizona also has about $460 million in the rainy day fund.
several years, the economy just doesn’t seem to be able to take That money is available, Schimpp said, but it’s supposed to be
off,” Schimpp said. “We’re picking up, but we’re just not picking set aside for emergencies, including another recession, which
up as fast as we wish we were.” is likely to happen sometime in the future. Nevertheless, there
For the FY 18 budget, which begins next July 1, JLBC sees is some good news and some bad news. The good news is that
a cash balance of a $101 million. But in terms of the ongoing
revenues compared to ongoing spending, the difference is only CONTINUED ON PAGE 19
$24 million, he said, adding: “That’s what we call a structural
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