Governor Bryant issued his Executive Budget Recommendation (EBR) for Fiscal Year 2020 (July 2019 – June 2020) yesterday.Click here to view the budget recommendation.Among other recommendations, the EBR:
Does not recommend a budget cut for any state agency
Sets aside 2% of estimated revenue, with nearly half of this estimated $116 million going into the Rainy Day Fund
Includes $25 million for a teacher pay raise in FY 2020 and recommends that the legislature fund another $25 million pay raise in FY 2021.(NOTE: With approximately 32,000 teachers in the state, this $25 million would result in a pay raise of approximately $780 (before taxes) for individual teachers in FY 2020. Given Mississippi’s average 2016-2017 teacher salary of $44,659, this reflects a 1.7% raise.)
Provides an $8.5 million increase for IHL’s Office of Student Financial Aid
The Joint Legislative Budget Committee will release its FY 2020 Legislative Budget Recommendation (LBR) in the coming weeks.It will serve as the starting point for the development and adoption of the final budget during the upcoming legislative session.