When we compare this year’s budget to the budget passed last year, there are few changes when we look at the big picture.
Growth:
- Total Education increased by 2.7% mainly due to the large teacher pay increase in Public Education.
- Health and Human Services increased 3.1% because of growth in Medicaid.
- In Natural and Economic Resources the major adjustments to that increase in spending is due to $10 million set aside for grants to encourage the making of films within the state and $20 million set aside for a Job Catalyst Fund.
Reductions:
- The Capital Improvements budget was reduced by 51.5% because many of the projects planned to be worked on are now being funded through Two-Thirds Bonds such as the Albermarle Building in Raleigh, the U.S.S. NC Battleship, and expansion of Hammocks Beach State Park, and the construction of a Western Crime lab in Edneyville, NC.
- Statewide Reserves were reduced by 16% mainly through the elimination of the General Fund reserve for Future Benefit Needs, realigning the State Health Plan and the Disability Income Plan to reflect a zero premium increase in 2015, and a reduction to the One North Carolina Fund and the Job Development Investment Grant Reserve.
