When college officials head to their state capitals next year to seek more funds for the 2008 fiscal year, many of them will be confronting tougher budget climates than they faced this year, according to a fiscal survey of the states released this week.
Most states saw healthy revenue growth during the 2007 fiscal year, but that is already beginning to change, according to the report, by the National Association of State Budget Officers and the National Governors Association.
The report said that some states already have seen a significant deterioration of their fiscal conditions and that most states expect revenue and spending growth to slow significantly in 2008.
In addition to facing the continued budget stresses of rising Medicaid and health-care costs and responding to the needs of their aging populations, most states will feel the pinch of the nation’s weakening housing market, the report said. —Sara Hebel




