Budget Agreement Finalized: QBE Fully Funded

This morning the conference committee on Georgia’s FY 2019 Budget met to announce an agreement on the final budget, likely to be voted on today in both chambers.

Of note, the economy has continued to grow and the Governor’s revenue estimate has been adjusted upward. As such, not only will Governor Deal leave office with a rainy day fund, but QBE – the formula that funds Georgia’s local school system – will be fully funded for the first time.

It’s been an interesting journey for Governor Deal, who took office with 2 days cash on hand in the state’s coffers. We’ve made incremental progress in fiscal issues across the board, while funding education with at least half of revenue growth or more virtually every year since the great recession.

The result is 8 years in the making. Education is fully funded by a formula set decades ago, and the state has cash in the bank.

Whomever is taking over this state next January will find a full cupboard, and a fully funded education system.

Congratulations go not only to Governor Deal, but to Appropriations Chairmen Terry England and Jack Hill. Y’all have made a great team.

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