Post by pavel on Apr 22, 2016 9:53:13 GMT -6
As lawmakers finalized a budget for the coming year that slashes most state agencies' spending, Gov. Phil Bryant announced Wednesday he's being forced to cut the current year's budget again and take more from the state's "rainy day fund" savings.
Bryant is cutting the current fiscal year's budget, which ends June 30, by another $25 million and pulling another $10 million from the rainy day fund. To date, revenue for the current year's budget has fallen $122.5 million short of the estimate used when lawmakers set it last year, Bryant said.
"(Cuts) will be very limited, about .43 percent, less than half a percent (average cut)," Bryant said. "It will be across the board with some exceptions. Luckily, it's not as big as it was going to be, because the Legislature (transferred) $50 million into 2016. "
This is the second round of cuts Bryant has been forced to make on the current year's budget and draft on the rainy day fund because of flagging revenue. In January, he cut most state budgets about 1.5 percent — totaling about $40 million — and dipped into the state's rainy day fund for about $35 million. He said at the time that more cuts and transfers from savings might be necessary.
Read more: www.clarionledger.com/story/news/politics/2016/04/20/bryant-budget-cuts/83280798/
Bryant is cutting the current fiscal year's budget, which ends June 30, by another $25 million and pulling another $10 million from the rainy day fund. To date, revenue for the current year's budget has fallen $122.5 million short of the estimate used when lawmakers set it last year, Bryant said.
"(Cuts) will be very limited, about .43 percent, less than half a percent (average cut)," Bryant said. "It will be across the board with some exceptions. Luckily, it's not as big as it was going to be, because the Legislature (transferred) $50 million into 2016. "
This is the second round of cuts Bryant has been forced to make on the current year's budget and draft on the rainy day fund because of flagging revenue. In January, he cut most state budgets about 1.5 percent — totaling about $40 million — and dipped into the state's rainy day fund for about $35 million. He said at the time that more cuts and transfers from savings might be necessary.
Read more: www.clarionledger.com/story/news/politics/2016/04/20/bryant-budget-cuts/83280798/