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What is the budget for Louisiana 2023?

Louisiana enacted its FY 2023 budget in June 2022. The enacted budget included $47 billion in total spending and $10.87 in general fund expenditures. Under the American Rescue Plan, Louisiana will receive $3 billion in direct state fiscal aid and $1.5 billion in local government aid from the federal government.

What is the budget for Louisiana in 2024?

The fiscal 2024 all funds budget totals $50.97 billion, a 0.46 percent increase from fiscal 2023. General fund expenditures for fiscal 2024 total $11.79 billion, a 4.6 percent increase from fiscal 2023. General fund revenues are projected to be $11.92 billion for fiscal 2024, a 2.95 percent decrease from fiscal 2023.

What is the budget proposal for Louisiana?

The fiscal 2024 all funds budget totals $50.97 billion, a 0.46 percent increase from fiscal 2023. General fund expenditures for fiscal 2024 total $11.79 billion, a 4.6 percent increase from fiscal 2023. General fund revenues are projected to be $11.92 billion for fiscal 2024, a 2.95 percent decrease from fiscal 2023.

How is the Louisiana state budget decided?

Louisiana uses an annual budget. The legislature must pass a balanced budget, but it can carry a deficit over into the following year. Louisiana limits both spending and revenue growth with binding rules so a legislative supermajority is required to override them.

What is the budget surplus for Louisiana?

By: Julie ODonoghue - October 19, 2023 5:00 am Louisiana is projected to have tens of millions of extra dollars to spend next spring after the state finished its last budget cycle with an estimated $330 million surplus.

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What are the steps of the budget process?

Normally, the budget-making process starts in the third quarter of the financial year. The budget has four stages viz., (1) estimates of expenditures and revenues, (2) first estimate of deficit, (3) narrowing of deficit and (4) presentation and approval of budget.

What is the budget process in Louisiana?

The process comprises three phases: agency budget development, enactment (approval) through the legislative process, and execution guided by the governor with oversight by the legislature. The governor must develop and recommend an annual operating budget each year before the legislative session.

What is the budget Act in Louisiana?

The Local Government Budget Act (LGBA), found in R.S. 39:1301-1315, directs political subdivisions of the State as to the manner in which the budget of the political subdivisions shall be adopted, implemented, and amended.

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