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FY 2013 Budget Overview

FY 2013 Budget Overview. Georgia Budget & Policy Institute Alan Essig, Executive Director March 1, 2012. FY 2012 Budget Overview | www.gbpi.org. FY 2012 Budget Overview | www.gbpi.org. Georgia Tax Rankings. FY 2012 Budget Overview | www.gbpi.org.

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FY 2013 Budget Overview

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  1. FY 2013 Budget Overview Georgia Budget & Policy Institute Alan Essig, Executive Director March 1, 2012 FY 2012 Budget Overview | www.gbpi.org

  2. FY 2012 Budget Overview | www.gbpi.org

  3. Georgia Tax Rankings FY 2012 Budget Overview | www.gbpi.org

  4. FY 2013 State General and Motor Fuel Funds Budget ($18.2 Billion) FY 2012 Budget Overview | www.gbpi.org

  5. FY 2013 Budget Drivers

  6. $2.0 Billion Cuts to State Budgets (FY 2009 – FY 2013) FY 2012 Budget Overview | www.gbpi.org

  7. Fewer State Employees Serving 1.7 Million More People FY 2012 Budget Overview | www.gbpi.org

  8. K-12 Funding Lags Behind Student Growth and Inflation

  9. Regents Funding Lags Behind Student Growth and Inflation FY 2012 Budget Overview | www.gbpi.org

  10. Declining Support for Technical College System

  11. Rainy Day Fund Needs to be Rebuilt FY 2012 Budget Overview | www.gbpi.org

  12. FY 2013 Lottery Funds Budget ($904 Million) FY 2012 Budget Overview | www.gbpi.org

  13. Structural Deficits • FY 2014 projected Budget Deficit - $320 million • New Revenue Needs ($500 million to $1 billion) • student growth, retirement contributions, health care, state prisoner growth/aging, pay raises, mental health settlement • Revenues sun setting and more tax cuts phasing in ($475 million) • Rebuild the reserves ($300-$400 million annually) FY 2012 Budget Overview | www.gbpi.org

  14. Georgia Revenues Fair and Adequate Tax Reform | www.gbpi.org

  15. Governor’s Tax Recommendations • Sales Tax Exemption for Energy for Manufacturers • Revise and Expand Jobs Tax Credits • Sales Tax Exemptions for Construction Projects with Major Regional Significance FY 2012 Budget Overview | www.gbpi.org

  16. 2020 Georgia Coalition • Coalition of over 80 organizations advocating for a balanced approach to budget and revenue solutions. • Website – 2020Georgia.org FY 2012 Budget Overview | www.gbpi.org

  17. Alan Essig, Executive Director aessig@gpbi.org 404.420.1324 www.facebook.com/gabudget @gabudget About the Georgia Budget & Policy Institute GBPI seeks to build a more prosperous Georgia. We rigorously analyze budget and tax policies and provide education to inspire informed debate and responsible decision-making, advancing our vision of a state in which economic opportunity and well-being are shared among all. GBPI is an independent, nonpartisan nonprofit founded in 2004. Let’s keep in touch. FY 2012 Budget Overview | www.gbpi.org

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