CARSON CITY — Governor Brian Sandoval issued a statement today after the Interim Finance Committee budget presentation on the FY15 ending fund balance.
During a presentation made by the Office of the Governor and the Department of Administration, it was announced that there is a projected shortfall in meeting a five percent ending fund balance for FY15.
The shortfall is caused by revenue numbers not meeting Economic Form forecasts, specifically gaming and net proceeds revenues, as well as a large increase in the student population in the Clark County School District.
Sandoval said:
“Our economy continues to show steady signs of solid improvement, unemployment is at its lowest point since the recession and we are seeing quality, sustainable job creation across the state. However, today’s numbers indicate that our revenue streams are not on pace with population growth and the mandatory resources needed to support that growth.
“I have instructed my Cabinet to continue to look for monetary savings within their existing budgets as we begin to close out the FY15 budget. As my office continues building the budget for the next biennium, we must continue to look beyond our traditional revenue sources, which are not recovering at the same pace as the rest of our economy, toward funding mechanisms that compare and complement the growth of our changing economy.”
