TOPEKA, Kan. (KSNT) – The Kansas budget director laid out a plan Tuesday to improve how revenue is forecasted in Kansas. The numbers released yesterday by the department of revenue show the state continues to miss the mark with its projections. A task force was created for analyzing the budget and revenue made seven recommendations for the Kansas Consensus Revenue Estimating Process.
That process is a forecast for the budget by the Kansas Department of Revenue.
“Our recommendation is to do whatever is necessary to come up with the accurate estimate,” Sam Williams, Kansas Consensus Revenue Estimating Working Group Chair said.
The task forces says the department needs to look at accurately forecasting the budget. The department also need new software for forecasting the economic outlook for the budget. Not only are they doing this — they want transparency for the budget forecasting process.
“It will allow for the comparison of what we are actually collecting on a more meaningful basis but the information will still be there,” Williams said.
The task force also recommends including forecasting experts in the process.
The goal of the changes is to improve the process according to task force chair Sam Williams.
“Now, we are saying here is the process and we are making sure those things happen,” Sam Williams said.
“What we did over the last 2 years was kind of a storm of tax policy changes and the economy lagging behind,” Nick Jordan, Secretary of Revenue said.
But now, the task force is hopeful these changes will help. The chair of the board said that making the recommendations is like treating the state like it is a business.
The Kansas Legislature will have to approve the changes and the Governor’s Office will have the final say.