Rhode Island budget estimators to set revenue and caseload projections starting Oct. 27
State budget and legislative fiscal advisers will hear testimony from state agencies and economists before agreeing on the figures lawmakers use to build the state budget, according to the General Assembly.
Rhode Island's Revenue and Caseload Estimating Conference, which produces the revenue and spending projections used to build the state budget, will meet from Oct. 27 through Nov. 10, according to a media advisory the General Assembly issued Thursday.
The conference meets twice a year, in the fall and the spring. Its three principals, State Budget Officer Joseph Codega Jr., House Fiscal Advisor Sharon Reynolds Ferland and Senate Fiscal Advisor Stephen Whitney, must reach a consensus on estimates of state general revenues and caseload expenses for the fiscal year under way and for the budget year. The General Assembly and the State Budget Office use those projections to prepare the budget, the advisory said.
The sessions open Oct. 27 with testimony on the cash assistance caseload from the Department of Human Services, services for people with developmental disabilities from the Department of Behavioral Healthcare, Developmental Disabilities and Hospitals, and the medical caseload from the Executive Office of Health and Human Services.
On Oct. 28, Moody's Analytics is scheduled to present U.S. and Rhode Island economic forecasts and the Department of Labor and Training will discuss labor market conditions, followed by a consensus economic forecast. Officials will also testify on Commerce Corporation tax credits, lottery receipts and motion picture production tax credits.
The caseload estimate is scheduled to be adopted Nov. 4, a session that also includes testimony on tax collections and accruals. The revenue estimate is scheduled for Nov. 10. Follow-up sessions on Oct. 30 and Nov. 6 will be held only if necessary.
The meetings will be televised on Capitol Television, on Cox channels 15 and 61, i3Broadband channel 15 and Verizon channel 34, and streamed online. Meeting materials will be posted on the General Assembly's website.
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