A state review panel will recommend that Delaware not only keep a budget benchmark appropriation that limits the growth of the state budget, but also put it into law. The Delaware Economic and Financial Advisory Council‘s Benchmark Evaluation and Review Panel also agreed to suggest that incoming legislators undergo training in how the state budget works. DEFAC chairman Michael Houghton …
State revenues stable for 2022, but worries for 2023, 2024
Photo/Getty Images Buoyed by personal and corporate income taxes, as well as real estate transfer taxes, predicts of Delaware’s 2022 revenues, and therefore its state budget, remain stable. But state fiscal experts expect the financial good times to slow as the state enters its fiscal year 2023 on July 1. With three months left in the 2022 budget, the Delaware …
Town Square LIVE Weekly Review – December 23, 2021
This Week’s Top Headlines Include: COMMUNITY Winterthur’s 2022 Jackie O exhibit to be based on letters in archive Down Syndrome Association cafe hopes to train workers for another job DelDOT announces completion of Route 141 road projects Rising COVID cases force postponement of New Year’s Eve concert Traveling for Christmas? Here are some things you should know Longwood wins best …
State raises budget prediction to include more revenue, $823.8 million surplus
The state is on track to have a huge surplus. Photo by Brian K. Leonard. September 2021 Fueled by stronger than expected corporate and personal income tax, a state committee is now forecasting that Delaware will have an $823.8 million surplus in its 2023 budget. Michael Houghton, chairman of the Delaware Economic and Financial Advisory Council on Monday called …
State’s 2022 budget includes $1,000 bonus for employees, $500 for pensioners
With Delaware’s revenue surplus holding steady at $1.12 billion, state budget bills dropped into the General Assembly Friday include a one-time $1,000 bonus for state employees and $500 bonus for pensioners. State employee expenses will soar in Fiscal Year 2022, which starts July 1, according to the final expenditure and revenue estimates by members of the Delaware Economic and …