Governor Gordon Cautions State’s Financial Picture Remains Deeply Concerning

Wyoming Governor Mark Gordon continues to caution that Wyoming’s revenue picture remains deeply concerning after the release of the Consensus Revenue Estimating Group (CREG) Wyoming State Government Revenue Forecast. The October CREG forecast that was released Monday shows a General Fund shortfall of $451.1 million and a school funding shortfall of more than $300 million, reflecting a historic downturn in Wyoming’s economy. Despite being a little better than what was projected in May, the state’s revenue collections have experienced a significant decline.

Governor Gordon told the Joint Appropriations Committee that he has a fundamental belief that Wyoming must live within our means, and that this budget crisis is unique, but it is real and we must be prepared. The Governor has implemented an initial round of 10 percent cuts selectively and has asked agencies to consider further cuts approaching 10 percent and to be thinking about the further cuts that may come. Gordon noted that Wyoming’s savings will not be able to offset the state’s cuts in the long-term and that he’s not interested in building a budget that just tries to get us to next year. He said if the State wants to remain competitive and productive, we must live within our means and structure the State for economic opportunity.

Members of the Joint Appropriations Committee acknowledged the scope of the problem that the state is facing and expressed their appreciation to the Governor for the steps he has taken to address the state’s budget crisis. Governor Gordon expressed his appreciation for the chairs of the committee and all of its members, as well as the positive, collaborative working relationship between the Executive and Legislative branches. The Governor will release his Fiscal Year 2021-22 Supplemental Budget on November 16.