JEFFERSON CITY, Mo. – On Friday, Governor Mike Parson signed the Fiscal Year 2024 (FY24) state operating and capital improvement budget bills, approving historic investments in the future of Missouri, including infrastructure, workforce, education systems, early childhood programs, and public safety resources.
“With this budget, our administration has done the right thing – the conservative thing – to make strategic investments and maintain responsible spending,” Governor Parson said. “Missouri’s economy is strong. Our revenues are up, businesses are growing and investing, and we maintain a historic revenue surplus, but we must not spend just for the sake of spending. When faced with this generational opportunity, we’ve cut taxes, put hard-earned dollars back in Missourians pockets, and invested in long-awaited projects that will improve the lives of Missourians for years to come. That’s what real, responsible conservatism looks like, and we aren’t done yet.”
“We want to thank all of the legislators who helped pass this balanced budget that continues Missouri’s strong financial position and invests in Missourians both today and tomorrow,” Governor Parson continued.
The Missouri FY24 state operating budget is approximately $51.8 billion, including $15.2 billion in general revenue. Additionally, Governor Parson issued 201 line-item vetoes, totaling $555.3 million.
During his 2023 State of the State Address, Governor Parson again called on the General Assembly to invest in infrastructure projects all across the state, including making it a priority to expand Interstate 70 to six lanes.
The FY24 budget bills include billions of dollars for critical infrastructure projects:
$2.8 billion to expand and rebuild I-70 across the state from Kansas City to St. Louis;
$379 million to boost road and bridge projects within the Statewide Transportation Improvement Program;
$248 million for broadband deployment in unserved and underserved communities; and
$60 million for safety improvements at railroad crossings.
Governor Parson understands that for the next generations of Missourians to achieve and maintain their American Dream, they must have the necessary education and skills to meet the demands of the future.
The FY24 budget prioritizes investments in both education and workforce development systems to provide Missourians with the tools they need to succeed:
$3.6 billion to again fully fund the K-12 Foundation Formula for the fifth year in a row;
$288.7 million for capital improvement projects at public higher education institutions;
$233 million to fully fund school transportation needs for the second year in a row;
$70.8 million core funding increase for state higher education institutions;
$60 million to invest in semiconductor production research, development, and skills training;
$38 million for the fourth year of MoExcels projects and employer-driven workforce training investments;
$32 million for the Career Ladder program to reward educators who go above and beyond normal duties;
Full funding for the Teacher Baseline Salary Grant Program which increases baseline K-12 educator pay to $38,000 per year (participating schools will no longer have a grant match requirement); and $3.5 million for Apprenticeship Missouri and Youth Apprenticeships; In his State of the State Address,
Governor Parson also emphasized the need to support early childhood programs.
The General Assembly agreed and funded Governor Parson’s recommendations:
$78 million to increase rates for child care providers;
$56 million for public and charter schools to provide Pre-Kindergarten programs to all students qualifying for free and reduced lunch; and
$26 million for private child care providers to offer Pre-Kindergarten programs to students qualifying for free and reduced lunch.
As a former sheriff, Governor Parson appreciates the need to continually support public safety efforts. Ensuring Missourians are safe, whether in their home, at work, or in school, is critically important. In the FY24 budget, Governor Parson approved several key items to improve safety and support communities:
$50 million for a second round of school safety grants;
$20 million for grant funding for first responders;
$13.1 million for targeted salary increases for the Missouri State Highway Patrol;
$11 million to upgrade Missouri State Highway Patrol equipment;
$1 million to continue the Missouri Blue Scholarship program;
$1 million to further support the 988 Crisis Hotline; and
$250,000 for the statewide School Safety Tipline.
In order to increase opportunities for Missourians’ success, state government must also look to continually improve the services it provides to citizens. This year, Governor Parson is approving needed upgrades and investments in state government services:
$300 million for a new mental health hospital in Kansas City;
$33.3 million for reconstruction and reform at the Missouri Children’s Division;
$17 million for MO HealthNet eligibility redeterminations;
$7.2 million for the construction of a new Division of Youth Services center in St. Louis;
$4.4 million to implement the Maternal Mortality Prevention plan; and
$4.3 million to increase the number of Youth Behavioral Health Liaisons statewide.
To view the FY24 state operating budget bills, click here: Appropriation Bills (Fiscal Year 2024) | Office of Administration (mo.gov)