The state Division of Budget released the 1st Quarterly Update to the Financial Plan this week, which finds that the State’s finances remain on track. The report also indicates that, based on current projections, state budget surpluses will occur in future budget years if the state continues to hold spending at 2%.

It is good to see that the state’s fiscal responsibility has continued. For the fifth straight year, the state’s budget has limited spending growth to less than two percent – a stark change to and continues a record of fiscal discipline that has reversed decades of budgets that increased spending faster than inflation or personal income growth.