Revenue surplus estimate scaled back, but needs remain the same
May 10, 2024
The legislature's Fiscal Research Division and the Office of State Budget & Management scaled back their revenue surplus projection on Friday, estimating that the state has $987 million in excess revenue to work with over the next two years.
State budgets require lawmakers to decide priorities. With almost a billion dollars in extra funds this year, it's time to make up ground and stop the mass exodus from the state government, leaving taxpayers with less efficient services that do not reflect North Carolina's values.
Investment in state services and those who provide them is the only way to tackle the vacancy crisis. Legislators must prioritize pay raises for state employees in this year's budget by increasing the 3% raise and adding a bonus for retention.
Almost one in four state jobs currently need to be fulfilled. This figure is even higher at state prisons, hospitals, treatment centers, and other hard-to-fill agencies. Some prisons operate with less than half the staff they are allotted.
Retirees are also hurting because they need true cost-of-living adjustments. Lawmakers must act in this budget to alleviate their strain.
SEANC's Government Relations team will be on the ground throughout the legislative session to ensure you have a voice in the budget discussion.