Iowa auditor praises Gov. Branstad's budget plan Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 12:12 pm, Monday, March 11, 2013 Vaudt said he reviewed the governor's budget plans for the 2014 and 2015 fiscal years and concluded they nearly eliminate the Iowa's use of one-time money for ongoing expenses, spending less than projected incoming revenues. Branstad in January unveiled a $6.5 billion spending plan for the fiscal year beginning July 1 that includes funding for new education programs as well as commercial property tax cuts. Vaudt also noted that the state should expect further reductions to federal funding and must continue efforts to shore up the state pension system, which is currently 80 percent funded.