Revenue forecast signals flat growth; state officials urge "stand‑still" budgets and project prioritization

Listen to the most recent Revenue Estimating Conference (REC) and state budget officials: revenue growth has steadied after the pandemic surge, and Louisiana is likely to "coast" rather than produce large new surpluses. Greg Albrecht, the REC economist with the Legislative Fiscal Office, told the Board of Regents finance committee on Sept. 24 that state payroll employment has largely returned to its pre‑COVID level and that, absent a large influx of population or labor‑force participation gains, "we're not gonna burst through 2,000,000 and just keep climbing." He said private sector and government employment dynamics and long‑run declines in extraction revenues change how the state must plan its budgets.

Barra: prepare for "stand‑still" budgets

Commissioner Tamara Barra (Commissioner of Administration) framed the practical implication for agencies and higher education: the REC snapshot shows modest growth ahead and less recurring federal support. Barra said agencies should prepare a baseline "stand‑still" budget and identify one to three highest‑priority additions they would seek if revenues improve. "Stand still with the opportunity to talk…