The Fiscal Affairs Division develops the Governor's budget recommendations for submission to the Legislature. The Division analyzes the projected fiscal impact of new and existing legislation to ensure that the Commonwealth's projected revenues support the projected level of spending, and oversees spending authorized by the Legislature.

Working with departments, the Fiscal Affairs Division develops and analyzes policy initiatives and alternatives; ensures fiscal stability under changing circumstances; and assesses the fiscal impacts of department activities.

The Division analyzes and reports on the fiscal health of the Commonwealth and provides fiscal data to bond rating agencies and others.

Objectives

In Fiscal Year 1998, the Executive Office for Administration and Finance transferred oversight of capital spending to the Fiscal Affairs Division. In Fiscal Year 1999, the Fiscal Affairs Division will work in conjunction with the Executive Office for Administration and Finance to implement statewide policies and procedures for the management of the Commonwealth's five-year capital spending plan.

Budget Recommendations

The amount recommended for Fiscal Year 1999 includes an additional $200,000 in funding which will enable the Division to acquire the resources necessary to provide a single oversight operation for the management of both capital and operating spending.

Budgetary Direct Appropriations

FISCAL AFFAIRS DIVISION
1101-2100	For the operation of the fiscal affairs division; provided, that the cost of computer resources and services provided by the information technology division for the design, development, and production of reports and information required to be included in budgets submitted by the governor to the legislature shall not be charged to this item	2,405,079