Delaware Secretary of Finance Thomas Cook issued the Fiscal Year 2016 Month-End Financial Statement for September 30th a couple weeks ago. Make no mistake, the First State is spending a lot of money, but our revenues are much less. And which state agency is spending the most money? One would think it is the Department of Health and Social Services. Nope. The Department of Education. For the month of September, we went from a beginning cash balance of $536,915,269 and we are down to $241,244,740 as of 9/30/15.
This is the elephant in the room that no one can quite tackle. But everything in this state WILL hinge on this financial monster coming our way. And it will play a huge part in every single Delaware election next year. Governor Markell has already checked out and he will keep bantering about how great education in our state is but how far we still need to go. Ignore him.
You can see the whole thing here:
One thought on “Delaware Is Spending Much More Than They Are Taking In. When Will The Mounting Budget Deficit Burst?”
September is the month when DDOE disburses the first major payments of property taxes to the school districts so I would expect them to be at or near the top of the expenditures list.. I don’t think that’s anything out of the ordinary. You’ll see more large disbursements next month when the final chunks of tax money goes out from DDOE to districts.