Nebraska State Budget

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Assignment 4.2 Abstract The State of Nebraska has a biennium budget that is set from 2013 all the way to 2015. Knowing what is in your budget and how to properly gauge what will be needed for the coming two years in each department is an important aspect to a successful budget. The person in charge of the budget for each department needs to know how to properly budget and respond to the needs of the state in the most fiscal way possible. A budget is only as good as the person who is running it. The Nebraska State budget is complex, but with the right amount of team work and dedication, it seems to run very smoothly. Nebraska State Budget The Nebraska State budget is set on a biennium basis. Since this is the case the budget will…show more content…
It gives a broad overview of the total estimated costs of all the areas that are being run in the state. The appropriations that are shown in the 2012-13 current fiscal year are those adopted by 2011 regular session and were further broken down during the 2011 special session of the 102nd legislature. The Governor’s budget recommendations for FY 2013-14 expect a general fund increase by four point nine percent over the two year period. By doing this the Governor is exceeding the minimum reserve requirement of fourteen point eight million for the next biennium. This type of foreshadowing is what is helping Nebraska to look at the overall big picture and to try and stay within the state allowable budget as closely as possible. The planning even estimates all the way into the 2015-17 biennium that would set the future growth at five percent and also leave a General Fund balance in excess of the minimum reserve requirement (Heineman, 2013). Revenue Generation, Expenditures, and Services The State of Nebraska does a good job of showing what the state’s budget is being spent on and to which programs the money for the state is going. When looking at the state’s budget there are several items that have been considered for the biennium. The State of Nebraska sets its recommendations by each functional area that are broken down into general government, agriculture, environment and natural resources, economic development, human resources development,
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