We are currently in a state of financial normalcy. Our staffing will remain flat with small targeted increases and no layoffs and no expansion. Staffing will only be effected by state income streams. The general fund gap is lower than during the recession but higher than last year.
Revenues have stabilized. Sales tax is still growing slowly at about 5% per year. Property taxes are maintaining their historical average. The State budget has increasing uncertainty.
Threats and challenges remain. Pension liabilities and costs will continue to rise for years. The Federal government actions create a lot of uncertainty. The economy is beginning the 9th year of a slow recovery. The following year may be the last normal year before recession.