Budget Outlook

Address major budget and revenue drivers including trends and variability in these drivers;
Clearly state the assumptions used in the estimates of baseline and projected expenditures and any adjustments made to those estimates;
Clearly state the assumptions used in the baseline revenue estimates and any adjustments to those estimates;
Include the impact of previously enacted legislation with a future implementation date;
Separately include projections based on the revenue and expenditures proposed in the governor's budget documents submitted to the legislature;
Each January, the state budget outlook work group shall also prepare, subject to the approval of the ERFC, a state budget outlook for state revenues and expenditures that reflects the governor's proposed budget document submitted to the legislature.
Within thirty days following enactment of an operating budget by the legislature, the work group shall prepare, a state budget outlook for state revenues and expenditures that reflects the enacted budget;
Publish its proposed methodology on this web site; and, provide recommendations to change the outlook process to increase reliability and accuracy beginning December 1, 2013 and every five years thereafter.