[PL-Directors] FW: Latest State Revenue Forecast

[Jim Scheppke]

Dear Staff:
Today's state revenue forecast projects another $337.5 million drop in state revenues. Immediately after the release of the forecast, the Governor issued a joint release with the House Speaker and the Senate President that includes his plan to rebalance the 2009-11 budget. He plans to make another across the Board cut, similar to the one he ordered in May to deal with the latest drop in revenues. I expect to receive a request from his office shortly to develop a plan for further reductions in our General Fund budget.

You may recall that in June the State Library Board approved reductions to our personal services budget totaling $40,793 and reductions to Ready to Read Grants to public libraries totaling $115,987. The Board will need to decide again on this new round of reductions. We may need to have a special phone meeting of the Board in September so that they can decide where to make reductions. I can’t predict exactly what the reduction target will be, but I believe it will be around $100,000.

Once I hear from the Governor’s Office what our reduction target is I will be sending you more information about further reductions that may need to be made to Ready to Read Grants this year.

This is a very difficult time for all state agencies and for our state. I have appreciated your understanding as we have had to make difficult choices from a very limited number of options. Only 22% of our entire budget is General Funds. The only General Fund programs are Talking Book and Braille Services and the Ready to Read Grant Program.

I will be sending more information as soon as I know more about what we need to do. Again, I will appreciate your understanding and cooperation.

Jim Scheppke, State Librarian
Oregon State Library
250 Winter St. NE
Salem, OR 97301
503-378-4367
(fax) 503-585-8059
jim.b.scheppke at state.or.us

[cid:3365685349_1938551]Go Green, Keep it on screen - think before you print.


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