05.26.2017 — Members of the conference committee on SB 1, the state budget bill, announced Thursday that they signed the final paperwork to establish the state’s budget priorities for the next two years. The final budget will likely be voted on by each chamber of the Legislature on Saturday.
SB 1 establishes a $107.8 billion budget for fiscal year 2018-19, including $990 million from the Rainy Day Fund for local grants, state hospitals, capital needs and other one-time expenditures. In all funds, the budget appropriates $216.75 billion — up $352 million (0.16 percent) from fiscal year 16-17.
The budget continues formula funding for public education at current levels with a basic allotment of $5,140 per student. It adds $2.65 billion to cover enrollment growth (80,000 students per year) and
$350 million for TRS to continue healthcare benefits for retirees.