June 25, 2020 –6:00 p.m. - With only one day left in this year’s session, and the need to pass a balanced budget by June 30, both the Georgia House and Senate passed a final budget for the fiscal year that begins July 1.
In all, the budget includes $2.2 billion in cuts from the current fiscal year due to the dramatic loss of state venues since March, and projections on revenue for the next fiscal year. At the top of the list of cuts is a reduction of $950 million in state funding to public schools.
But, not on the list are cuts to more than 100,000 employees of a long list of State of Georgia agencies and departments, or cuts to the Georgia university system employees, even though the possibility of furloughs or pay cuts for those employees had been discussed more the past two months.
The total budget is approx. $26 billion, down from this years’ current $28.2 billion budget, approximately a 10% cut, but that’s better than the 14% in cuts that Gov. Kemp had originally projected would be necessary. They will be using $250 million from State reserve funds to arrive at a balanced budget.