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<br />~"% This Budget Meets Today's Economic <br />~_ <br />Realities <br />/ Meets challenge of a $4.5 billion shortfall caused <br />by growing spending, recession and slow <br />economic recovery <br />/ No tax increases are proposed <br />/ Brings spending back in line with available <br />revenues <br />/ Provides essential state services most critical to <br />state taxpayers <br /> <br />Governor Pawlenty's FY 2004-05 Budget <br />Decisions Were Based on Sound <br />Financia l Management Goals <br />/ Resolve the immediate fiscal crisis <br />/ Restore stability and predictability to state <br />finances <br />/ Rebuild the budget reserve to manage future <br />risks <br />/ Permanently adjust spending to match revenue <br />growth <br />/ Address shortfall in a way that will permit <br />future investments in priority areas <br />,/ <br />u <br />Govemor Pawlenty's FY 2004-OS Budget <br />3 <br />