The state cannot budget more than the official revenue certification. 1980s budget reforms created the State Board of Equalization to make a revenue estimate that limits how much can be appropriated each year. The Board consists of seven public officials (Governor, Lieutenant Governor, Attorney General, Treasurer, Auditor and Inspector, Superintendent of Public Instruction, and Agriculture Commissioner.) They meet, consider estimates and recommendations of state financial officials and make estimates as follows:

• In late December the Board makes a preliminary estimate that establishes the revenue that can be included in the Governor's budget.
• In February, the Board makes a revised estimate considering changes in revenue collections and economic conditions. This establishes the maximum amount the Legislature can appropriate under revenue laws as they exist at the beginning of the legislative session.
• The Board may meet again only to revise the certification if the Legislature approves changes in revenue laws. It may increase or decrease the amount the Legislature can appropriate. This meeting normally occurs in June.

The Board of Equalization plays an important role in the budget process by creating a binding revenue estimate. It considers recent revenue experience, economic conditions and outlook, and recommendations from finance and economic experts from within and outside of state government. This forecast ends disagreements on how much can be spent and focuses the process instead on how the fixed amount should be spent.Go to the State Budget Office to see current and prior certification packets

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