Governor Signs 2003 Budget

Governor Bob Holden has signed the state’s $18.9-Billion operating budget. In so doing, Holden vetoed more than $357,000 from the budget to fix technical errors and for administrative staff he considered not essential. The 2003 Fiscal Year budget is $372.9-Million smaller than the one approved for the current fiscal year. It’s the first decrease in the size of the total approved budget since Fiscal Year 1982, and the first decrease in general revenue budget since Fiscal Year 1993. Ten of 14 departments will receive less general revenue funding, while Transportation, Natural Resources, and Economic Development’s revenue budgets have been reduced by more than 30-percent.