The outlook has also worsened for FY 04-05. The budget shortfall for FY 04 is projected to be $1.673 billion and $1.541 billion for FY 05.
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| Session Updates and Press Conferences Date: Monday, February 25, 2002 | |
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| Pam Wheelock, Commissioner of Finance, and Thomas Stinson, State Economist, release the February budget forecast. The new projected budget deficit for FY 02-03 has increased by $336 million, totalling $2.289 billion. The decline is due in a large part to lower than expected revenues. The outlook has also worsened for FY 04-05. The budget shortfall for FY 04 is projected to be $1.673 billion and $1.541 billion for FY 05. |