Governor Dave Freudenthal said the continuing economic conditions will impact State revenues through fiscal years 2010-11 and 2011-12.   In a telephone conference from Iraq, where he’s visiting Wyoming National Guard troops, the Governor said the Wyoming Legislature will have his budget recommendations by the Dec. 1 deadline.
The Economic Analysis Division of the Department of Administration and Information reports the Wyoming cost of living index increased at a 7.9% rate in the second quarter of 2008 before falling to 2.6% in the fourth quarter, and then to zero in the second quarter of this year.

Revenue forecasts compiled in October by the Consensus Revenue Estimating Group (CREG) project FY 2010-11 general fund revenues falling an additional $25.5 million, to $1.987 billion, from CREG’s May projection. FY 2011-12 figures have been reduced even further, to $1.866 billion, a $168 million drop.

General fund revenues are not expected to begin rebounding until mid FY 2011-12.Gov. Freudenthal has been meeting with State agencies to review their budget requests and prepare his recommendations for the Legislature ahead of the budget session.