Delaware News

Governor Carney Presents Fiscal Year 2024 Recommended Budget

Department of Finance | Governor John Carney | Office of Management and Budget | Office of the Governor | State Budget | Date Posted: Thursday, January 26, 2023


Governor Carney presenting the FY24 budget.

Plan focuses on strengthening economy, investing in public schools, supporting families and workforce, and protecting the environment

DOVER, Del. – Governor Carney on Thursday presented his Fiscal Year 2024 Recommended Budget, sending the General Assembly a plan that will strengthen Delaware’s economy, invest in public schools, support Delaware’s families and workforce, and protect our environment.

“This year’s recommended budget shows our priorities clearly with raises for teachers and state employees, major investments in housing and child care to support our families, and responsibly managing taxpayer dollars,” said Governor Carney. “We’ll also provide middle class tax relief for working Delawareans. We’re continuing to strengthen our economy, invest in public schools, support families and our workforce, and protect our environment. I’d like to thank members of the General Assembly for their partnership and for their consideration of this budget. I look forward to building on our work, together.”

Fiscal Year 2024 Budget Highlights

  • General Fund Operating budget totals $5.5 billion, growing 7.4% from FY23
  • Sets aside over $18.9 million in reserves (after projected cash to bond bill and grant in aid)
  • Appropriates $324.9 million toward one-time items in a separate supplemental appropriation bill
  • Takes continued steps toward providing compensation and pay equity for state employees
  • Increases teacher pay by 9% and public education employee pay by 3%
  • Increases Opportunity Funding investments by $15 million in our schools for low-income students and English language learners
  • Historic investment of $101.5 million in affordable housing programs and incentives
  • Supports economic development and infrastructure throughout the State
  • Continues investments in clean water, economic development and fulfills our commitments to new school construction

 

Supporting Delaware’s Workforce

  • Additional year of historic pay policy, with a 3% to 9% with lowest wage workers receiving the highest percentage
  • Historic wage increase for teachers, 9% raise for teachers and a 3% raise for public education workers
  • Establishes a $15 minimum wage for merit full-time state employees
  • Invests $194 million in state employee health care and other post-retirement employee benefits

 

Investing in Delaware’s Children

  • Purchase of Care rate increase to 100% of the 75th percentile of the 2021 Market Rate – $10.3 million
  • Increase of $6.1 million for a total of $12.2 million in Early Childhood Assistance Program (ECAP)
  • Increases Opportunity Funding Investments by $15 million for a total of $53 million
  • $30 million for mental health services for elementary and middle school students
  • Increase of $3 million to the Wilmington Leaning Collaborative for a total of $10 million

 

Environmental Initiatives

  • $5.1 million for Cover Crop Investments to support climate smart initiatives and improve water quality
  • $2.9 million for lead assessment and remediation
  • $18 million for the Clean Water State Revolving Fund
  • $1.7 million for Conservation Cost Share

Investing in Affordable Housing

  • $101.5 in affordable housing investment – the largest in Delaware’s history – including $31.5 million for housing initiatives including Catalyst Fund, Accelerator Fund, Market Pressure Relief Fund, and Preservation Fund 

Click here to download Governor Carney’s Fiscal Year 2024 budget presentation.

Watch the budget presentation on Governor Carney’s YouTube page

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Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.

Governor Carney Presents Fiscal Year 2024 Recommended Budget

Department of Finance | Governor John Carney | Office of Management and Budget | Office of the Governor | State Budget | Date Posted: Thursday, January 26, 2023


Governor Carney presenting the FY24 budget.

Plan focuses on strengthening economy, investing in public schools, supporting families and workforce, and protecting the environment

DOVER, Del. – Governor Carney on Thursday presented his Fiscal Year 2024 Recommended Budget, sending the General Assembly a plan that will strengthen Delaware’s economy, invest in public schools, support Delaware’s families and workforce, and protect our environment.

“This year’s recommended budget shows our priorities clearly with raises for teachers and state employees, major investments in housing and child care to support our families, and responsibly managing taxpayer dollars,” said Governor Carney. “We’ll also provide middle class tax relief for working Delawareans. We’re continuing to strengthen our economy, invest in public schools, support families and our workforce, and protect our environment. I’d like to thank members of the General Assembly for their partnership and for their consideration of this budget. I look forward to building on our work, together.”

Fiscal Year 2024 Budget Highlights

  • General Fund Operating budget totals $5.5 billion, growing 7.4% from FY23
  • Sets aside over $18.9 million in reserves (after projected cash to bond bill and grant in aid)
  • Appropriates $324.9 million toward one-time items in a separate supplemental appropriation bill
  • Takes continued steps toward providing compensation and pay equity for state employees
  • Increases teacher pay by 9% and public education employee pay by 3%
  • Increases Opportunity Funding investments by $15 million in our schools for low-income students and English language learners
  • Historic investment of $101.5 million in affordable housing programs and incentives
  • Supports economic development and infrastructure throughout the State
  • Continues investments in clean water, economic development and fulfills our commitments to new school construction

 

Supporting Delaware’s Workforce

  • Additional year of historic pay policy, with a 3% to 9% with lowest wage workers receiving the highest percentage
  • Historic wage increase for teachers, 9% raise for teachers and a 3% raise for public education workers
  • Establishes a $15 minimum wage for merit full-time state employees
  • Invests $194 million in state employee health care and other post-retirement employee benefits

 

Investing in Delaware’s Children

  • Purchase of Care rate increase to 100% of the 75th percentile of the 2021 Market Rate – $10.3 million
  • Increase of $6.1 million for a total of $12.2 million in Early Childhood Assistance Program (ECAP)
  • Increases Opportunity Funding Investments by $15 million for a total of $53 million
  • $30 million for mental health services for elementary and middle school students
  • Increase of $3 million to the Wilmington Leaning Collaborative for a total of $10 million

 

Environmental Initiatives

  • $5.1 million for Cover Crop Investments to support climate smart initiatives and improve water quality
  • $2.9 million for lead assessment and remediation
  • $18 million for the Clean Water State Revolving Fund
  • $1.7 million for Conservation Cost Share

Investing in Affordable Housing

  • $101.5 in affordable housing investment – the largest in Delaware’s history – including $31.5 million for housing initiatives including Catalyst Fund, Accelerator Fund, Market Pressure Relief Fund, and Preservation Fund 

Click here to download Governor Carney’s Fiscal Year 2024 budget presentation.

Watch the budget presentation on Governor Carney’s YouTube page

image_printPrint

Related Topics:  , ,


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.