Budget Office

The Budget Office provides credible, accurate, financial information to Governor Gina Raimondo. The Office presents objective insight, analysis, and advice to the Governor to maximize finite resources and implement his policy priorities. The Budget Office prepares the annual state budget and assembles, correlates, and revises the revenue estimates and appropriation requests for state departments.

Mission - The Budget Office is headed by State Budget Officer Thomas A. Mullaney. The goal of the Budget Office is to provide sound staff advice to the Governor for the responsible financial management of state government, including evaluation of needed resources, analysis of state programs, priorities, and alternatives, and the optimum allocation of resources to meet policy and management goals for services to the people of Rhode Island. The Budget Office staff is responsible for the analysis, processing and production of budget recommendations, development of economic and revenue forecasts, and the production of other financial documents, including Official Statements that accompany the issuance of General Obligation Bonds and other debt. The office’s work is guided by our mission to ensure accountability of and value for public dollars.

The functions performed by the Budget Office staff include:

Budget Development - Producing the governor's annual, supplemental, and capital budgets is the Budget Office’s highest priority. This involves analysis of departmental budget submissions, means of financing, incorporation of gubernatorial priorities and decisions, technical assistance to smaller agencies, presentation and testimony on the executive budget before the General Assembly and technical assistance/negotiation in preparation of the annual appropriations bill.

Financial Planning and Budgetary Reporting - The Budget Office provides policy makers historical, current and projections of revenues and expenditures. The Office is also responsible for the development of the state’s five-year financial forecast, as required by law.

Financial/Economic Analysis – Budget Office staff conduct analyses to: identify areas of the budget that suggest budget or financial management problems exist; ensure that state policies and adopted laws incorporate sound financial management principles; and identify budget options and analyze budget issues for executive and legislative consideration. Staff are also responsible for revenue estimating, including participation in the Consensus Revenue Estimating Conference and periodic reporting on actual revenues versus estimates.

Budget Implementation - The Budget Office develops and implements statewide budget policies and ensures that agency spending plans conform to state laws. Tasks include development of monthly allotments, selected review of encumbrances and payments, and preparation of quarterly projections of year-end balances.

Debt Issuance – The Budget Office, in cooperation with the Office of the General Treasurer, is responsible for preparation for bond and other debt issuance by the state, including presentations to rating agencies, preparation of offering circulars, tracking of expenditures against authorizations and debt management.