STATE BUDGET: Spending Gap Nearly Eliminated

Generic State Budget

State Auditor Mary Mosiman says Iowa’s 2014 budget is significant because it virtually erases the spending gap that has existed for years in our state’s budgets.

Mosiman briefed the media on the final action Fiscal Year 2014 budget Monday morning.

It reduces the spending gap from $765 million in 2011 to less than $17 million in 2014.

Mosiman says while there’s a lot to commend about this budget, there are still areas where improvement is needed – like transparency.

“This budget increases shifts that impact transparency by $129 million, which will distort comparisons with previous years. Transparent budgets are a key goal of following sound budgeting practices, and we can do better,” says Mosiman.

Looking to the future, Mosiman noted the property tax reform law and the education reform law will have substantial fiscal impacts for years to come.