Budgets, Budgets

We recently concluded the budget preparation process for fiscal 2014. It includes some good news -

Revenues:

• a 2.5% increase in our base state appropriation
• funding for a 1.5% across the board salary increase (everyone gets it, but we were only funded for "E" account positions)
• a $500,000 new state appropriation for LEIC
• fee income is improving, while fees are mostly staying flat

Expenses:

• We are matching the state funding for a total salary pool of 3%
• We are increasing our commitment to professional development for all staff
• We are maintaining our equipment replacement schedule
• We are enhancing office space in Memphis and Cookeville
• Most importantly, we are maintaining our commitment to our customers by providing the resources necessary to meet their needs

All of this is possible because of the outstanding work of the entire IPS staff. Because the work is excellent and our customers are satisfied, it is easy for me and others to tell our story, show the results and justify increases in funding. THANK YOU!

I look forward to discussing the budget process more during my upcoming statewide visits.