Delaware heads toward the final moves in creating its 2024 budget, which starts July 1, with a projected $963.5 surplus. It will be the third straight year in a row of extraordinary revenues that hit right at $1 billion, and a turbulent economy it’s expected to be the last for a while to reach that stratospheric height. Revenue estimates rose …
The way Delaware handles its budgets, a growing population and efforts to diversify the state economy all help the state continue to earn a AAA bond rating, which means the state pays less when it wants to borrow money. For example: The state received bids last week for its upcoming sale of $380 million of triple-A rated General Obligation Bonds …
Delaware may have passed the peak of a rise in post-covid revenues, the Delaware Economic and Financial Advisory Council heard Monday. Financial experts call that peak an “inflection point,” akin to that moment when roller-coaster riders feel a brief lift in their tummies before the coaster takes a plunge. That doesn’t mean the state’s finances will plunge. Only that they …
Photo/Getty Images Buoyed by personal and corporate income taxes, as well as real estate transfer taxes, predicts of Delaware’s 2022 revenues, and therefore its state budget, remain stable. But state fiscal experts expect the financial good times to slow as the state enters its fiscal year 2023 on July 1. With three months left in the 2022 budget, the …
