FISCAL YEAR 2014-15 STATE BUDGET
The Fiscal Year 2014-15 Budget
The budget passed by the House and Senate is a fiscally responsible spending plan balanced on revenue estimate numbers agreed to by the House and Senate in December 2013.
Any potential additional revenue above the agreed-upon estimates would be deposited in a Surplus Revenue Fund to be spent on education and one-time projects.
Budget increases would make the K12 education budget the largest in state history, fully fund the A+ Scholarship program, fully fund the Bright Flight Scholarship program, increase funding for Access Missouri Financial Assistance Program and fund the rebuilding of Fulton State Mental Hospital which is the oldest public mental health facility west of the Mississippi River built in 1847.
Budget Highlights are noted below:
K-12 Education
1. $278m increase for the Foundation Formula ($122m GR and $156m Surplus Revenue) which would make the K-12 education budget the largest in in state history.
2. $4m for Missouri Preschool Program in unaccredited and provisionally accredited districts. http://dese.mo.gov/early-extended-learning/early-learning/missouri-preschool-pro...
3. $3.5m for reading programs in unaccredited and provisionally accredited districts.
4. $1m increase in Parents as Teachers. http://dese.mo.gov/early-extended-learning/early-learning/parents-teachers
5. $1m increase for Teach for America.
6. $15m increase to transportation funding.
Higher Education
1. 5% increase to the core at universities and community colleges.
2. $6m in equity funding for community colleges.
3. Full ride loan forgiveness for Bright Flight recipients who stay and work in Missouri. http://www.dhe.mo.gov/ppc/grants/brightflight.php
4. $15m increase for Access Missouri. http://www.dhe.mo.gov/ppc/grants/accessmo.php
5. $6.7m increase for A+ Scholarship Program. http://www.dhe.mo.gov/ppc/grants/aplusscholarship.php
Economic Development
1. $4.5m for matching funds to Early Stage Business Development Grants. http://www.ded.mo.gov/Businesses/BusinessAssistance.aspx
2. $5m increase to MTC. http://www.missouritechnology.com/
3. $400k to Certified Work Ready Communities. http://www.ded.mo.gov/getcertified
4. $8.5m increase to Tourism. http://visitmo.com
5. $5m to Kansas City contingent upon receipt of the 2016 Republican National Convention.
Moving Missouri Forward
1. $7.2m in payments to the Biodiesel incentive fund. http://agriculture.mo.gov/abd/financial/biodiesel.php
2. 1% Cost of Living pay raise for state employees.
3. $25/month deferred compensation match for state employees.
4. Eliminate the Development Disabilities waitlist.
5. Money for an extra day of courier service to the state lab for newborn screening test results. Also, expands stops to include eight additional birthing hospitals and testing on Saturdays.
6. Expand dental coverage to over 300,000 adult Medicaid recipients to cut down on emergency room visits.
7. $14m Bond payment for Fulton State Mental Hospital. http://dmh.mo.gov/fulton/
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