Panel updates Delaware revenue forecast

A state panel is updating the official revenue projections Delaware lawmakers will use in fashioning a budget for the fiscal year starting July 1.

 

The Delaware Economic and Financial Advisory Council, which sets Delaware’s official revenue forecast, meets today.

The panel last met in December, before Gov. Jack Markell unveiled a proposed $3.54 billion operating budget proposal for the next fiscal year.

Members of the legislature’s joint finance committee held a series of hearings in recent weeks to discuss the proposed budget with the heads of state agencies.

Total general fund appropriations in Markell’s proposal, including the operating budget, capital budget and $40 million in grants to nonprofits and community agencies, are about $42 million lower than the current year’s budget.