The new fiscal year begins this week for Alabama's government. We have two budgets, a General Fund and an Education Budget. Both budgets have experienced a devastating loss in revenues due to the coronavirus. The Education Budget was drastically reduced from what was originally expected at the beginning of the calendar year in January.
The Education Budget receives the revenues generated from our sales and income taxes in the state. Therefore, the downturn in the economy is especially heartbreaking for educators, teachers, schools, and universities.