If you've been a regular reader of this blog for more than a couple of years (I'm deeply sorry) then you know of my quest for a "balanced budget." Each year, Richardson claims to have a "balanced budget," yet often expenditures exceed revenues. What gives?
Last year, when I
last explored this subject, I came to two conclusions.
First, that Richardson considers the budget to be balanced if expenditures are less than revenues
plus reserved fund balance, and other financing sources.
Second, that over a multi-year cycle that reserved fund balance sometimes has a surplus that can be drawn down, and sometimes it doesn't. So, even with the more common dictionary definition of balanced budget, one that doesn't consider reserved fund balances, Richardson's budget is
cyclically balanced, even if year by year it might run slight deficits or surpluses.
Still, my hope each year is this will be a year in which Richardson doesn't rely on reserved fund balances to make up for an excess of expenditures over revenues. Whether or not it deserves as much attention as I give it, I can't help
taking a sneak peek at those bottom line revenue and expenditure numbers.
After the jump, that sneak peek. Revenues vs expenditures. Black or red. Which is it?
