Iowa State Capitol Rotunda
Photo Credit: Angelo Mercado via Flickr (CC-By-NC-ND 2.0)

DES MOINES, Iowa – On Thursday, Iowa House and Senate leadership announced a joint agreement on budget targets for the Fiscal Year 2020 state budget. The agreed upon FY20 budget plan spends $7.643 billion, accounting for 97.39% of ongoing revenue.

The joint budget agreement is 0.2% higher than the adjusted FY19 budget, fills all reserve accounts, and leaves an ending balance of nearly $300 million.

“This agreement is the product of working closely together with the Senate to develop a responsible budget plan that Iowans can be proud of,” State Rep. Pat Grassley, R-New Hartford, Chairman of the House Appropriations Committee, said in a released statement.

“This budget plan ensures that we can fund key priorities like community colleges, career training programs, rural hospitals, nursing homes, public safety, and initiatives to support rural Iowa. These are all important programs that Iowans value and support,” he said.

“House Republicans will continue to take a conservative approach to the state budget that ensures we fund our priorities,” Grassley added.

Sen. Michael Breitbach (R-Strawberry Point), Chairman of the Senate Appropriations Committee, also issued a statement on the agreement:

“I appreciate the positive conversations with Representative Grassley to set a budget for Fiscal Year 2020. I believe this budget is sustainable and fiscally responsible. It will allow both chambers and the governor to meet our priorities for next fiscal year, while maintaining full reserves, and continuing to protect the Iowa taxpayer. I look forward to advancing these budget bills out of the Iowa Senate in the coming days,” State Sen. Michael Breitbach, R-Strawberry Point, Chairman of the Senate Appropriations Committee, noted in a released statement.

Individual budget subcommittee targets are as follows:

Administration & Regulation56,541,445
Ag & Natural Resources42,682,522
Economic Development41,903,345
Education954,733,479
Health & Human Services1,937,186,761
Justice Systems768,017,983
State Aid to Schools & other standing appropriations3,842,588,325
GENERAL FUND TOTAL7,643,653,860

Photo Credit: Angelo Mercado via Flickr (CC-By-NC-ND 2.0)

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