Where Do We Go From Here?
November 21st, 2012
State General Fund Revenue Estimate: FY 2013 Revised and FY 2014
In the previous post, we saw how General Fund revenue has changed over time. It may look as if our state is headed toward recovery, but the future of Mississippi’s economy remains unknown. As the budget-making process moves forward, the need for a balanced approach, one that include raising revenue along with some budget cuts, is increasingly important.
The State Gross Domestic Product and Education in Mississippi:
The State Gross Domestic Product is a measure of the state’s total economy and is an important indicator of how much our state can afford to spend on public priorities.
The figure below shows Public Education Expenditures as a Share of the State’s Economy from 2003 to 2013.
Since 2010, the share of public education appropriations relative to the economy has experienced a decline of 0.5 percentage points. If we truly want to be able to invest more in education—our state will need to ensure that we have the revenue to support this investment.
Author: Francinia D. McKeithan, Policy Analyst/ SFAI Policy Fellow
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