Good News.

In case you were wondering where El Som’s Pre-game / Post-game posts are this week, well, they will not be appearing as the General Assembly is on a two week recess while the Joint Finance Committee meets to mark up the budget. And on that front, the Delaware Economic and Financial Advisory Council (DEFAC) announced yesterday that the state’s revenues are much more than expected.

[DEFAC], which produces state revenue projections, now estimates General Fund revenues of almost $3.7 billion for fiscal 2013, which begins in July. A corporate income tax settlement added almost $60 million to projected revenues, accounting for most of the additional funds. […]

That’s an extra $66 million for the Administration and legislators to play with. As always, as we recover from the Great Recession, and more revenue comes in, it is necessary to restore cuts made to social services and other necessary state programs. It looks like the Administration has that in mind:

Finance Secretary Tom Cook said the administration will look to restore $16 million in funding to farmland and open space preservation programs, add $20 million to the transportation trust fund and $10 million for unfunded retiree health care benefits for public employees. Another $10 million will likely be needed for the Port of Wilmington – with Markell’s office still pushing for the establishment of a public-private partnership to operate the port. “We’re looking to be fiscally responsible in these recommendations,” said Brian Maxwell, director of budget development at the Office of Management and Budget.

Even the Republican leader in the General Assembly, Senate Minority Leader Gary Simpson seems, to be on board.

[Simpson] supported most of the administration’s spending priorities – saying he was “pleased” with plans to restore funding to open space and farmland preservation.