State Budget Shortfall for Fiscal Year 2014

DES MOINES, Iowa — State Auditor Mary Mosiman says Gov. Terry Branstad plans to spend more than the state takes in this fiscal year.

The 2014 budget year that began on July 1st includes $7.4 billion in spending. At the same time the state is only projected to take in $7.23 billion.

In order to balance the budget, Gov. Branstad will use $171 million in emergency funds. The governor says the emergency funding is needed in part because of a drop in farm revenue.

“Farm income is not what it has been, we had some robust years of farm income and now we have corn selling for $3.60 a bushel as opposed to a few years ago when it was $7 and $8,” says Branstad.

The state auditor also say the following fiscal year budget, for 2015,  underfunds Medicare by $53 million.

3 comments

  • Randy Bauer

    Sloppy . . . headline says there’s a Fiscal Year 2014 shortfall, but the story refers to Fiscal Year 2015 (which is correct). Story also says the FY 2015 budget underfunds Medicare, which is amazing, given that States do not fund Medicare. States do fund Medicaid, which is a very large and very different program and the one the State Auditor references. Details, details – time for ‘Staff Writer’ to re-take State Budget 101.

  • William Denison

    Our good governor will make sure it works out in defiance of the democrats. He’s a great guy.

  • William Denison

    Keep up the great work Terry. Everything you say in your ads are false and as fake as you really are. Cowards love posting using my name like the above post. Its the only thing Repubs can do. Lie ,cheat and steal.

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