Iowa Ordinance Adopting the Budget
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FAQ
Iowa lawmakers approved an $8.52 billion budget for the coming year. That's an increase of $302.5 million, or 3.7%, over the current fiscal year budget. The revenue left unspent will go to state reserve funds.
Iowa lawmakers approved an $8.52 billion budget for the coming year. That's an increase of $302.5 million, or 3.7%, over the current fiscal year budget.
Iowa's largest spending areas per capita were public welfare ($2,401) and elementary and secondary education ($2,369). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.
DES MOINES, Iowa ? Come January, lawmakers will be back in Des Moines for the 2024 legislative session as the state gets ready to start the new year with a budget surplus of more than $1.8 billion. DMARC's been breaking records," Chair of the Iowa Hunger Coalition Luke Elzinga said.
Iowa State's fiscal 2024 general university operating budget includes $491.4 million from tuition, $174.1 in state appropriations and $25.6 million from other areas, totaling $691.1 million.
General fund appropriations totaled $8.52 billion in fiscal 2024, an increase of $302.5 million, or 3.7 percent, compared to revised fiscal 2023 appropriations. Net receipts are estimated at $9.65 billion, a decline of $100.1 million, or 1.0 percent, from revised fiscal 2023 levels.
Today, Gov. Kim Reynolds announced the State of Iowa will end Fiscal Year 2023 with a balance of $1.83 billion in the General Fund, $902 million in reserve funds and $2.74 billion in the Taxpayer Relief Fund.
Iowa enacted its FY 2023 budget in June 2022. The enacted budget included $8.21 billion in general fund spending.