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Beshear plugs $90.9m shortfall in state budget using a mix of state agency & unspent general funds
cn|2 Pure Politics ^ | 7/16/2014 | Nick Storm

Posted on 07/17/2014 6:33:47 PM PDT by Republican Wildcat

Gov. Steve Beshear announced Wednesday he had again re-balanced the state’s budget using millions in state agency funds, unspent General Funds and cash from the Budget Reserve Trust Fund to plug a nearly $91 million budget shortfall.

In his 14th re-balance of the budget, Beshear said he was focused on making the government “as efficient and as lean as possible.”

“And to protect as best we can the core services that offer help and hope to our people and represent important long-term investments in Kentucky’s future: education, health care and public safety,” Beshear said in a statement.

To re-balance the budget using a mix of reductions and money transfers, Beshear was able to plug the one-percent overall shortfall of $91 million.

They transferred $50 million from state agency funds which the governor’s office said were in excess of budget amounts, something they felt they could do under current law.

“The use of fund transfers is a valuable tool in how we manage and balance the overall budget of the Commonwealth, and one that keeps us from making deeper cuts to state agencies,” Beshear said. “The recent ruling by the Kentucky Supreme Court again affirms the constitutionality of this practice, thus ensuring much needed flexibility for the executive and legislative branches.”

The governor also used another $15 million from unspent General Fund appropriations which are expected to lapse to the General Fund in excess of the amount budgeted.

(Excerpt) Read more at ...

TOPICS: Extended News; Government; News/Current Events; US: Kentucky
KEYWORDS: beshear; shortfall

1 posted on 07/17/2014 6:33:47 PM PDT by Republican Wildcat
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To: Republican Wildcat

How many times can you go to”That Well”,Guv????????????

2 posted on 07/17/2014 6:44:02 PM PDT by bandleader
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To: bandleader

Do like the state of Washington does. Put everything into the general fund, roads, schools, etc. When the lottery was first proposed it was for the schools, the money went into schools. What happened next was that lottery money went into the general fund.

3 posted on 07/17/2014 6:53:31 PM PDT by SkyDancer (If you do not read the newspapers you are uninformed. If you do read the newspapers you are misinfo)
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To: Republican Wildcat

People in KY are tricked time and time again. Alben W. Barkley set the precedent.

4 posted on 07/17/2014 8:28:22 PM PDT by Theodore R. (Liberals keep winning; so the American people must now be all-liberal all the time.)
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To: Theodore R.

The Little Man in the govs. mansion loves to spend that $$$. I am awaiting him coming forward to ask for another penny increase in the sales tax or jump the income tax up another percentage point. Of course with the perfunctory promise of will never ever raise it again we are done this time...

We have a sales tax, state income tax, lottery and taxes about anything possible: automobiles here you get to pay property tax on them each year, insurance tax, satellite tax, cable tax phone tax, special tax to replace your water heater, school tax, electric bill tax, water bill tax, library tax, health dept. tax, property tax we are the Illinois and California of taxes in the South and these idiots still can’t balance a budget.

5 posted on 07/18/2014 12:35:52 PM PDT by sarge83
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