A Message from the President
February 11, 2016
As suggested in my “Budget Update dated January 25,” persistently low petroleum prices and other factors have exacerbated projected state budget shortfalls. Yesterday’s meeting of the Revenue Estimating Conference resulted in predictions of an $870 million shortfall for the current fiscal year and a $2 billion shortfall for the 2016-17 fiscal year, which begins July 1.
As anticipated, the Louisiana Legislature will meet in a Special Session for approximately three weeks beginning on February 14. During the session, legislators and the administration will work to address the projected shortfall in the current 2015-16 fiscal year through what is expected to be a combination of expenditure reductions and revenue-raising measures.
The Governor’s Executive Budget for the 2016-17 fiscal year will be presented to the Joint Legislative Committee on the Budget on Saturday, February 13. The budget is expected to reflect the significant reduction in anticipated revenues for next fiscal year as projected by the recent meeting of the Revenue Estimating Conference.
As higher education leaders, legislators, the Governor and his staff begin to navigate these serious issues, I want our campus community to be apprised of new developments. In that respect, please be advised that Louisiana Public Broadcasting and major television and radio stations across the state will broadcast a rare special address by Governor John Bel Edwardstonight, February 11, at 6:30 p.m.
As more information is made available, I will share it accordingly with our campus community.
John L. Crain