Revenue Estimating Conference meets to start work on projections and spending plans

BATON ROUGE, LA (WAFB) - The work on revenue projections for 2015 and how the state of Louisiana will spend its 2014 budget surplus will begin Monday, as officials meet at the Capitol for the start of the Revenue Estimating Conference.

The conference is a panel of four members. It includes two state lawmakers, the Jindal administration's budget official and an LSU economist.

Their goal is to forecast the state's income for the next fiscal year and balance that with the state budget. As the conference is getting underway, the panel is going into it with the recent news that the 2015 state budget is facing a $1.4 million shortfall. That figure may grow as a result of the conference.

Things that will be heavily considered during the meeting is the continued drop of oil prices and how it is playing into the bigger money picture. Other items of concern include cuts to state departments that offer services to account for the budget deficit and possible cuts to higher education.

The meeting of the Revenue Estimating Conference kicks off at 1:30 p.m.

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