Finance - December 23, 2011

Mid-Year Budget Report Grim 

This week PA Budget Secretary Charles Zogby gave his mid-year budget report. Sec. Zogby predicted a $500 million shortfall in year-end General Fund revenues and a negative balance of $746 million for the Commonwealth’s 2012-13 preliminary budget. He blames an unstable economy - here and in Europe, and federal inaction. He also indicated that the commonwealth must brace for an even slimmer budget in 2012-2013 than the current fiscal year.

State Receives $29.2 for Economic Development 

Also this week PA Department of Community and Economic Development announced they've received $29.2 million of funding from the U.S. Treasury's State Small Business Credit Initiative. DCED Secretary C. Alan Walker said the funds will be used for small business growth and entrepreneurial investment through local partners.


Happy Holidays and wishes for a wonderful New Year from The Winter Group!