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
Individual budget subcommittee targets are as follows:
|Administration & Regulation||56,541,445|
|Ag & Natural Resources||42,682,522|
|Health & Human Services||1,937,186,761|
|State Aid to Schools & other standing appropriations||3,842,588,325|
|GENERAL FUND TOTAL||7,643,653,860|