A state financial report released Monday showed a General Fund shortfall of $451.1 million and a school funding shortfall of $300 million, according to a news release from Gov. Mark Gordon.
The Consensus Estimating Revenue Group’s forecast is slightly better than projected in May, but the state’s revenue collections have experienced a significant decline.
“I have a fundamental belief that we must live within our means,” Gordon told the Joint Appropriations Committee, comprised of members of the State House and Senate.