JUNEAU -- Senate Finance Committee Co-Chairs Dave Donley (R- Anchorage) and Pete Kelly (R-Fairbanks) announced on Tuesday the membership of the Senate subcommittees responsible for the Fiscal Year 2002 operating budget.

Subcommittees are assigned to perform the detailed work of the newly adopted system of results-based budgeting including developing and reviewing mission and measures; reviewing funding requests from agencies; hearing testimony from departments or related agency staffers; and developing budget recommendations for the full Senate Finance Committee.

"The Legislature always has some hard decisions to make about how the state should best utilize its financial resources, and this year is no exception," said Donley. "Despite a lot of misinformation to the contrary we are faced with a significant fiscal gap in FY'02. The Department of Revenue estimates a $530 million revenue shortfall if the Legislature adopts the governor's requested budget increase. Even without those increases, we are still facing a $300 million revenue shortfall.

"We are fortunate to have a very experienced finance committee this year, their expertise will prove invaluable in formulating an accountable resulted based budget and minimizing the revenue shortfall."

Subcommittee assignments are attached.

Attachments:

• Printable List of Senate Finance Subcommittee members.,
  Requires Adobe Acrobat Reader, 1 page document - 68 K
• HTML Document of Senate Finance Subcommittee members

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