Governor John Bel Edwards released a statement on the Fiscal Year 2016 (ended June 30th, 2016) budget deficit. The Revenue Estimating Conference announced that the FY 16 shortfall was approximately $313 million. According to state law, any deficit for the previous fiscal year must be addressed prior to the end of the next fiscal year. Commissioner of Administration Jay Dardenne will outline the specifics of the budget stabilization proposals at a Joint Legislative Committee on the Budget hearing today. Edwards said in the statement that “stabilizing Louisiana’s budget is my top priority, but we are still recovering from years of mismanagement.”
Read the full statement here.