(Host) A key member of the Shumlin administration is preparing to manage the state budget. In January, Treasurer Jeb Spaulding will leave the job he was just re-elected to, to become the Administration Secretary for Governor-elect Peter Shumlin.
Speaking today on VPR’s Vermont Edition, Spaulding said balancing the state budget requires long-term planning.
(Spaulding) "Really tackle the budget for FY12 in way that relies as minimally as possible on one-time monies and use of reserve funds and smoke and mirrors as much as possible. Because if you take that approach, then every year you’re picking at a scab and you never get to a point where your wound is healed."
(Host) Spaulding says revenues are increasing for the current fiscal year – by as much as 60 to 70 million dollars. But that’s offset by the loss of federal funds, in the form of stimulus money that won’t be renewed this year.
Senator Susan Bartlett will also play a key role in shaping the next state budget. Spaulding dismisses observations that he and Bartlett have a more conservative approach to budgeting than Governor-elect Shumlin.
(Spaulding) "The numbers have to add up. It’s not a question of being liberal or conservative, it’s a question of being realistic. I think Susan and I share that – we’re both practical people."
(Host) Spaulding says it’s important that the state develop spending patterns that can be sustained going forward.