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Advertisement Legislature announces joint budget targets for FY18
by Ken Rizer State Representative · April 13th, 2017


This week the House and Senate announced joint targets for the Fiscal Year 2018 (FY18) budget. The agreed-upon budget plan spends $7.245 billion, which is about $18 million less than FY17. These numbers are a responsible and cautious approach to spending in recognition that revenue may continue to come in at a lower amount than currently estimated by the Revenue Estimating Conference.

Below are the targets under the Legislature's budget plan:

Budget Targets:

Administration and Regulation: $47.39 million

Agriculture and Natural Resources: $38.84 million

Economic Development: $38.41 million

Education: $908.41 million

Health and Human Services: $1.766 billion

Justice Systems: $734.95 million

Standings: $3.711 billion

TOTAL: $7.245 billion

In addition to this responsible approach, this budget plan fully funds the additional $40 million promised to K-12 schools earlier this session. It should be clear that K-12 education will be receiving the largest funding increase in all areas of government. Unfortunately, given the current fiscal situation most areas of the budget will see reductions. The legislature will do it best to work with individual departments to lessen the impact of these cuts as much as possible.

This budget plan also makes an initial down payment of $20 million to repay the Cash Reserve account. Money from the Cash Reserve account was used to fill the gap between revenues and the budget numbers at the end of the current fiscal year. The legislature will continue to look for ways to increase the down payment this year and will have a plan to fully repay the Cash Reserve by the end of this General Assembly.

Fortunately, the House rejected over $1 billion in additional spending plans offered by the minority party over the last two years. Without that strong stand, key areas like local school budgets would be facing deep cuts. Iowans expect the legislature to create a responsible budget where we live within our means. I will continue to work towards this goal as your representative.

It's a great honor to serve the people of Marion, Bertram, Ely and the surrounding parts of Linn County. If you'd like to meet, discuss an issue, or visit the Capitol please call me at 319-651-7316 or email me at ken.rizer@legis.iowa.gov.
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