The state budget is a tool used to carry out state law and policy decisions. The budget, which must be balanced, allocates all revenue resources including General Fund, Lottery, Federal, and Other Funds that pay for public services. The budget may also authorize debt financing for some projects and activities.
The budget covers two fiscal years, which is a biennium. The biennium begins on July 1 of odd-numbered years, and ends on June 30 of the next odd-numbered year. For example, July 1, 2019 - June 30, 2021.
The budget development process occurs in three major phases: Agency Request, Governor's Recommended Budget, and Legislatively Adopted Budget.