2006 Budget out before election

One of the cornerstones of our platform in 2003 was that we would have the budget out for your review before the election. The Administrator's budget was released on October 20, 2005 - the earliest in memory, perhaps ever.

Let me explain the process from here:

Mr. Schrader's budget is the default budget. Among the highlights are a reduction in the tax rate by about 2.9% and the introduction of capital project budgeting. Should the legislature fail to agree to modifications to his proposal, it will become the official 2006 budget. The legislature will soon begin "Annual Session", which is a series of meetings to address the budget and propose changes. We will analyze the proposed budget line by line, question Mr. Schrader on nearly all of it, and discuss with departments and agencies whether the budget meets their needs. As we go along, amendments to the budget will almost certainly be made, until we reach a final proposed amended budget.

A public hearing will be held, so that you can offer your feedback; this is tentatively scheduled for mid-November. At some point after the public hearing, a vote of the full legislature will be held.

So, while we don't have a final budget just yet, we have improved processes sufficiently that the Administrator's budget is ready for public scrutiny. This began with the Treasurer's Office getting its Annual Financial Update Document (known as the "AUD") completed in March. This allowed the independent outside auditor to begin his audit much earlier than he had in prior years; he completed his audit report in August and discussed his findings with the legislature in September. These were the two key pieces that allowed the Administrator to put together a budget based on sound, audited financial information, not mere guesses.

And that is how we got to where we are now. We look forward to your feedback.