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Gov. Sisolak issues statement on Nevada Economic Forum

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Posted at 10:05 PM, Dec 03, 2020

CARSON CITY (KTNV) — Nevada Gov. Steve Sisolak issued the following statement on the conclusion of Thursday’s Economic Forum, which determines revenue projections that the governor must use in developing the Executive Budget for the next biennium.

"Today’s Economic Forum report is a sober reminder of the devastating impacts COVID-19 has caused in our State. This global pandemic has created both a fiscal and economic crisis in our State, and my Office, the Governor’s Finance Office and state agencies will continue the challenging task of preparing an Executive Budget based on our new fiscal reality with the goal of preserving vital services as we plan for a post-COVID future,” said Gov. Steve Sisolak. “Once the Legislative Session begins, I look forward to working with Nevada lawmakers on finalizing the budget.”

In early November, the Governor’s Finance Office sent a memo to executive branch directors and agency heads directing all state agencies to prepare proposed budget reserves of 12% for each year of the upcoming 2021-2023 biennium.

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These reserve proposals are for budget planning purposes and allow the Governor’s Finance Office to provide options for consideration during the development of the Governor’s recommended budget.

Earlier this year, the Governor’s Finance Office issued a request for budget reserve proposals to all agencies for Fiscal Years 2020 and 2021 to address the unprecedented and historic economic crisis the State was facing as a result of the COVID-19 pandemic.

The governor called the Nevada Legislature into a Special Session in July, where immediate and one-time solutions to address budget shortfalls for Fiscal Years 2020 and 2021 were approved.

All states are continuing to face devastating impacts on their budgets as a result of the COVID-19 recession, and Nevada is no exception, according to the governor's office. That’s why Gov. Sisolak joins his peers across the country in calling on Congress for a robust and multi-year funding recovery plan for states and territories.

The governor says he will continue to work with the federal delegation to push for additional federal stimulus funding to help ensure the state can provide resources and services to residents across Nevada.