End of year focus on state revenues and budgets

As cities near the end of their budget process, two key events setting the stage for 2024 state budget issues will take place in the next month. On November 20, the Economic and Revenue Forecast Council will release its quarterly state revenue forecast.

Next, those revenue projections will be used to develop the Governor’s proposed supplemental budget for the current 2023-25 biennium. The proposed supplemental budget updates are expected to be released the week of December 11. By law, the Governor must submit proposed budgets by December 20 each year.

The proposals must assume existing revenues and no new sources of funding, so it is often a starting point for discussions in the Legislature, which will develop their own budget proposals. The House and Senate proposals will typically be released shortly after the February state revenue forecast and a final budget passed before they adjourn the session in mid-March.

AWC sent a letter earlier this fall to the Governor and budget committees with city budget priorities for 2024. AWC encourages city officials to talk to your legislators about those supplemental budget priorities, in addition to AWC’s 2024 legislative priorities.