The cost of the state budget is re-estimated twice each year. Economic and budget forecasts are issued in November and February - setting the basis for budget development and legislative actions.
After the budget is adopted, there are normally five updates per year to state budget data. These releases provide updated information based on:
- November Budget & Economic Forecast
- Governor's Budget Recommendations (January or February)
- February Budget & Economic Forecast
- Revised Governor's Budget Recommendations (usually in March)
- End-of-Session Estimates (usually in May or June)
Even though the budget is enacted for a two-year period, numbers associated with the budget change with each of these updated budget forecasts, and legislative actions during regular and special legislative sessions.
Explanation of Budgetary Statements