Texas Legislature: Legislative Budget Board

Meeting Summary. The meeting was called to order by Speaker Straus, and the minutes from the Legislative Budget Board meeting on December 1, 2016, were approved as written. Receive a report and testimony from the office of the Comptroller of Public Accounts regarding the financial condition of this state as required by Section 322.003(f) of the Government Code. Background (Press Release). Texas Comptroller Glenn Hegar today revised the Certification Revenue Estimate (CRE), announcing better than expected revenue growth in fiscal 2018 and an improved economic outlook for fiscal 2019. In a July 11 letter to state leadership, Hegar said the state will have $110.17 billion in General Revenue-Related (GR-R) funds available for general purpose spending for the 2018-19 biennium, resulting in a projected fiscal 2019 ending balance of $2.67 billion, an increase from the $94 million ending balance projected in the October 2017 CRE. The ending balance does not account for any 2018-19 supplem