State of Arizona Budget Forum

ARIZONA BUDGET FORUM 1

Stateof Arizona Budget Forum

Arizona State enjoys long-term financial security since over 50% ofthe 2017 spending initiatives are one-time (State of ArizonaFiscal Year 2017 Budget, 2016). The proposed budget also createsa $61 million positive structural balance by the end of the year(State of Arizona Fiscal Year 2017 Budget, 2016).Consequently, Arizona’s structural deficit will be eliminated whilethe state’s fund will be protected. Nevertheless, severalmodifications can be made to ensure that the needs of statewidecitizens are adequately met (Thesis).

The top spending priorities for the State include public schools,higher education, child safety, public safety, transportation, andveterans. Every student in Arizona has the right to receivehigh-quality and affordable education. Therefore, more resources needto be spent on the K-12 public school system. JTED programs must alsobe fully funded to ensure that more students can enroll and benefit(State of Arizona Fiscal Year 2017 Budget, 2016). Publicschool capital improvement also helps to cater for renovations andthe building of new learning facilities. Furthermore, Arizona hasthree of the best universities in the U.S (State of Arizona FiscalYear 2017 Budget, 2016). Since these institutions contribute tothe State’s economic development, more funds should be allocated tosupport the universities. Hence, Arizona will continue to provideworld-class education programs to both local and internationalstudents.

Moreover, Arizona needs to prioritize spending on child safety toreduce the growth rate of those in state care (State of ArizonaFiscal Year 2017 Budget, 2016). Hence, the most vulnerablechildren will be protected. The Border Strike Force requires morefunding to increase the seizures of drugs and harmful weapons.Insecurity concerns have manifested through highway accidents andviolent crime. Such incidents create greater demand for health careand cause more foster care placements (State of Arizona FiscalYear 2017 Budget, 2016). Therefore, it is essential to prioritizethe funding on public safety. Arizona also needs to increase thespending on transportation because the infrastructure system providesnumerous economic and quality of life benefits (State of ArizonaFiscal Year 2017 Budget, 2016). Arizona also needs to recognizethe immense contributions of army veterans by constructing retirementhomes. Rather than experiencing mere recognition, war heroes canreceive support and assistance.

Notably, Arizona has excellent prospects for future job growth.Therefore, additional revenue could be raised from taxation. Many ofthe jobs that were lost during the recession have been recovered(State of Arizona Fiscal Year 2017 Budget, 2016). Hence, staterevenues would increase if the state raised the income tax rate.Other sources of funds include licensing fees, sales and grossreceipts, and property taxes. Arizona can undertake governmentalprojects and initiatives to increase the amount of federal aid. Thestate has established a business-friendly climate that attractsplenty of investors and entrepreneurs. Additionally, Arizona has apopulation of over 6 million people, the majority of whom are in themiddle-class bracket (State of Arizona Fiscal Year 2017 Budget,2016). Therefore, the state can increase its revenue by raising thelicensing fees. Entrepreneurs would have to pay more to establishbusinesses in Arizona.

Public facilities such as stadiums and parks could also increase theamount of charges to acquire more revenues. In this manner, the Statewill acquire the necessary resources to provide amenities such aswater, electricity, and drainage. Furthermore, state-owned propertiescould be sold to private developers to raise additional revenue. Someof these institutions include public companies and corporations. Openmarket operations can provide citizens with the opportunity to obtainshareholding stakes in particular firms. Sales and gross receiptsfrom public property can help the state to bolster its long-termfinancial security. Consequently, Arizona will cater for the economicand social needs of the people.(Conclusion)

Reference

State of Arizona Fiscal Year 2017 Budget. (2016, October 31).Retrieved from http://azgovernor.gov/fy17budget