Settlement money, nonprofit cuts among Delaware budget fixes

(AP) – The General Assembly’s budget-writing committee is relying on cuts to nonprofit groups and money from a nationwide financial settlement to balance a spending plan for the fiscal year starting next week.

The Joint Finance Committee on Wednesday finished work on a $3.9 billion operating budget for fiscal 2016, roughly 2.5 percent higher than the spending plan proposed by Gov. Jack Markell in January.

To help balance the budget, lawmakers agreed to use $25 million in one-time funds from a nationwide settlement involving mortgage-backed securities.

They also agreed to across-the-board cuts of 5 percent in grant funding for nonprofit groups and community agencies.

Committee members also decided to provide no funding next fiscal year for agricultural land and open space preservation programs.