WILMINGTON, Del. — A panel formed by Delaware lawmakers to study the state’s budgeting practices is getting down to work.

The panel meeting Thursday was created by lawmakers in the waning hours of this year’s budget session, which required an extraordinary overtime session before they could agree on a budget for this year.

The panel is charged with examining Delaware’s historic budgeting practices, including spending only 98 percent of estimated revenue and using a budget reserve account.

It will also discuss restrictions on budget surpluses, whether from unforeseen revenue growth or one-time windfalls, so they don’t result in long-term expansion of spending. Officials also will discuss the benefits of storing excess funds during good revenue years to cover operating deficits during leaner budget years.

A preliminary report is expected by May 1.