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Gov. declares 10.6% proration in Alabama
Saturday, March 17, 2012
Governor Robert Bentley's office announced late Friday afternoon in a press statement that a 10.6 percent proration is being declared on the state's General Fund Budget for the remainder of fiscal year 2012. That budget ends September 30. Bentley's office said the General Fund has been impacted by several major factors and that it is necessary to cut the budget across the board. The largest factors included tens of millions of dollars in state funding required for tornado recovery. The governor's office said stock market conditions during the fourth quarter of fiscal 2011 were also among the worst in the last 60 years. "We have pursued every possible option in order to avoid proration; however, this step must be taken." State Finance Director Dr. Marquita Davis said. "While proration is difficult, it is necessary to balance the budget, which is constitutionally required in Alabama." WHAT DOES PRORATION MEAN? With the declaration of proration, state agencies financed by the General Fund are required to reduce expenses through the current fiscal year. "Just as families must reduce their spending when money is limited, government must also reduce its spending," Governor Bentley said. "We must live within our means, and we will make financial decisions that honor our commitment to taxpayers to keep a balanced budget." Governor Bentley said he sees "encouraging signs" citing the state's falling unemployement rate. It currently stands at 7.8 percent. "Also, we have announced more than 17,000 new, future jobs. Bentley added, "Unfortunately, the General Fund Budget has no growth revenues, so it will take longer to respond to the economy improving." The governor's office said the proration declaration does not affect public school funding.
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Keywords: Bovernor Bentley, proration, state, Alabama,
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