Delaware News

State Treasurer Colleen Davis Statement on Governor’s Recommended Budget

Office of the State Treasurer | State Treasurer Colleen C. Davis | Date Posted: Friday, January 27, 2023


OST Seal

“Governor Carney’s proposed budget for fiscal year 2024 represents a comprehensive spending plan for today, while preserving valuable assets for the future.

Our office continues to focus on three main priorities: bolstering retirement security and readiness, creating pathways to economic empowerment, and promoting a culture of financial excellence. I want to thank Governor Carney for his support of those priorities by including money in his recommended budget for the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) Program. Since being signed into law last summer, significant progress has already been made towards helping provide a secure choice retirement program to tens of thousands of Delawareans who do not have the benefit of an employer sponsored program.

While allocating money for vital programs for students, affordable housing, and the environment, on top of critical human resource investments into our valued State workers, Governor Carney also showed his commitment to the future setting aside $18.9 million in reserves and earmarking $324.9 million toward one-time items in a separate supplemental appropriation bill. He also showed his devotion to state employees by establishing a $15 minimum wage for full-time merit employees.

Our office continues to do its part with participation on DEFAC, the Cash Management Policy Board, and on several other initiatives which has helped to maintain Delaware’s AAA bond rating for the past 25 years.

The legislative Joint Finance Committee will now begin its hearings to consider the Governor’s budget and craft a responsible spending plan. On February 7th I will go before the JFC and state our case for the importance of the investments needed for Delaware EARNS to move forward. We will also seek funding for priorities supporting the state’s digital government initiatives and our treasury management modernization project, which will automate and streamline our operations.

While not included in the Governor’s recommended budget, I will also urge the JFC to consider reinstatement of the deferred compensation match program for state employees. Like Delaware EARNS, the match program will give extra support to retirement readiness and security. I stand with our state employees and hope to gain the support of the legislature in helping them save for the future.”

 

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State Treasurer Colleen Davis Statement on Governor’s Recommended Budget

Office of the State Treasurer | State Treasurer Colleen C. Davis | Date Posted: Friday, January 27, 2023


OST Seal

“Governor Carney’s proposed budget for fiscal year 2024 represents a comprehensive spending plan for today, while preserving valuable assets for the future.

Our office continues to focus on three main priorities: bolstering retirement security and readiness, creating pathways to economic empowerment, and promoting a culture of financial excellence. I want to thank Governor Carney for his support of those priorities by including money in his recommended budget for the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) Program. Since being signed into law last summer, significant progress has already been made towards helping provide a secure choice retirement program to tens of thousands of Delawareans who do not have the benefit of an employer sponsored program.

While allocating money for vital programs for students, affordable housing, and the environment, on top of critical human resource investments into our valued State workers, Governor Carney also showed his commitment to the future setting aside $18.9 million in reserves and earmarking $324.9 million toward one-time items in a separate supplemental appropriation bill. He also showed his devotion to state employees by establishing a $15 minimum wage for full-time merit employees.

Our office continues to do its part with participation on DEFAC, the Cash Management Policy Board, and on several other initiatives which has helped to maintain Delaware’s AAA bond rating for the past 25 years.

The legislative Joint Finance Committee will now begin its hearings to consider the Governor’s budget and craft a responsible spending plan. On February 7th I will go before the JFC and state our case for the importance of the investments needed for Delaware EARNS to move forward. We will also seek funding for priorities supporting the state’s digital government initiatives and our treasury management modernization project, which will automate and streamline our operations.

While not included in the Governor’s recommended budget, I will also urge the JFC to consider reinstatement of the deferred compensation match program for state employees. Like Delaware EARNS, the match program will give extra support to retirement readiness and security. I stand with our state employees and hope to gain the support of the legislature in helping them save for the future.”

 

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.