Holden calls summit on next state budget

JEFFERSON CITY, Mo. -- With Missouri's recent budget problems, Gov. Bob Holden is planning a "budget summit" Thursday to discuss next year's state finances.

Holden said he has invited members of his Cabinet and lawmakers to a nearby office building to discuss the budget that begins July 1, 2003.

There is no set agenda for the meeting except for exchanging ideas about dealing with another tough budget year, Holden spokeswoman Chris Kelly said Tuesday. The meeting is scheduled to last 90 minutes.

"We want to look at the early economic readings of the 2004 budget and talk to the group about some ideas the governor has and hear any suggestions they have, because we have to get going on this early," Kelly said.

Legislators plan to be in Jefferson City anyway for their annual veto session, scheduled for today and Thursday.

'Going to be tight'

Sen. John Russell, chairman of the Senate Appropriations Committee, said he didn't know what to expect from the meeting but was willing to listen.

"It will be interesting to see what they have in mind, and it may just be very preliminary with not a great deal of detailed information," said Russell, R-Lebanon. "The budget is going to be tight, and the revenues are certainly not as strong as we would like for them to be."

Kelly said it was unclear what action would be taken after the meeting but said it is important that discussions on the budget be held as early as possible.

During the fiscal year that ended in June, Holden withheld about $600 million from the state's $19.2 billion budget.

Lawmakers pieced together an $18.9 billion budget for the current fiscal year by authorizing the state to sell its rights to its tobacco settlement proceeds, tinkering with tax laws and taking money away from special state funds.

The governor and lawmakers declared the budget to be balanced, satisfying the requirements of the Missouri Constitution.