Jefferson City, MO (STL.News) Wednesday, Missouri Governor Mike Parson announced the release of $126,921,606 in previously restricted Fiscal Year 2021 funds, including $117,460,583 in general revenue.
“Thanks to our Show Me Strong Recovery Plan, we continue to outpace our economic recovery forecast, which is why were are able to release these funds today,” Governor Parson said. “This is great news for our overall state and economy, and we will continue to evaluate our budget and spending as we move forward into the new year.”
Due to the financial impact of COVID-19, the state restricted approximately $449 million in FY21 spending to ensure a balanced budget and the necessary funds to combat the virus moving forward. At the time these budget decisions were made, Missouri’s unemployment rate was projected to be at roughly 16.3 percent.
With Missouri’s current unemployment rate at 4.4 percent and 67 percent of jobs recovered as of November 2020, the state is in a better economic position than previously projected.
The funds released today include nearly $26 million for the Department of Higher Education and Workforce Development and $1.5 million for the Department of Elementary and Secondary Education.
The remainder includes funding for several other departments, including the Office of the Lieutenant Governor, Office of Administration, Department of Agriculture, Department of Natural Resources, Department of Economic Development, Department of Public Safety, Department of Mental Health, Department of Health and Senior Services, and Department of Social Services.
In October 2020, Governor Parson released nearly $40 million in FY21 general revenue funds and allocated approximately $95 million in CARES Act funds for critical services in several areas. Nearly $100 million of these funds were to support K-12 and higher education.
To view a full breakdown of the funds, click here.
News Released January 6, 2021