Many states issue consensus estimates for long-range revenues.
Kentucky is one of the few that has a similar process for expenditures. Not only that, it calculates in advance how it can reduce expenditures in priority order if revenues turn south. If there are surpluses, it's ready, too, with a prioritized list of projects that don't build up the ongoing operating budget. Debt service was set at 6 percent of state revenues. Previously, capital spending had peaks and valleys that made it more difficult to plan.