In this succinct analysis, the Foundation examines the impact of the Governor's vetoes and proposed supplemental funding requests on the fiscal 2002 budget approved by the Legislature. While the budget would rely less on "rainy day" reserves to achieve balance under the Governor's proposals, it would be $150 million out of balance -- $50 million more out of balance than the legislative budget -- and unwisely reduce pension funding by over $200 million.
December 01, 2001
FY Pre-2008
Fiscal 2002 Budget: Key Points in Considering Veto Overrides and Supplemental Requests
In this succinct analysis, the Foundation examines the impact of the Governor's vetoes and proposed supplemental funding requests on the fiscal 2002 budget approved by the Legislature. While the budget would rely less on "rainy day" reserves to achieve balance under the Governor's proposals, it would be $150 million out of balance -- $50 million more out of balance than the legislative budget -- and unwisely reduce pension funding by over $200 million.
