DEFAC Adjusts State Revenues Lower


The Delaware Economic and Financial Advisory Council met Monday and have revised the state’s revenues down about $33.7-million.  Secretary of Finance, Tom Cook tells WGMD that if you apply that number to the available resources for the next fiscal year Delaware has a shortfall of about $201-million.  But factor in things like medicaid, school choice and other items – the numbers jump to about a $350-million shortfall.  The next six months will be very labor intensive for the new adminstration and General Assembly, however this is also a good opportunity for the new administration to do an evaluation and reassess what the state’s revenue portfolio should look like.