Archive for Friday, August 8, 2014

New Kansas figures show shortfalls

August 8, 2014, 3:31 p.m. Updated August 8, 2014, 4:10 p.m.

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— New budget projections released Friday by the Kansas Legislature's nonpartisan research staff show a state budget shortfall developing by July 2016.

The Legislative Research Department's projections also show a lower figure for the state's cash reserves on June 30 than the figure reported last month by Gov. Sam Brownback's administration.

The department provided the figures to The Associated Press after releasing them to legislators. They're likely to become part of an intense public debate about whether personal income tax cuts engineered by Brownback are creating the economic growth he promised or wrecking the state's finances.

The department projects that with the state's existing spending commitments, Kansas would face a projected shortfall of $238 million at the end of June 2016. The department initially listed a higher figure, but revised it downward.

The department issued a projection in May after lawmakers finished work on budget issues for the year, and it showed that a shortfall wouldn't emerge until a year later, by July 2017.

The new projection came after state tax collections fell short of expectations in April, May and June by a total of $334 million. That reduced the state's cash reserves.

The department said those cash reserves on June 30 — the end of the state's 2014 budget year — were $380 million, not the nearly $435 million reported by Brownback's administration last month.

The department's figure is $55 million lower because it subtracted bills that were pending but not yet paid at the close of business June 30, as is its practice.

Comments

Fred Whitehead Jr. 11 months, 3 weeks ago

And the beat-down goes on. And on. And on.................

11 months, 3 weeks ago

This wrecking of Democracy through the pillaging of this state's finances (with many more to follow) is all part of the plan -of course- to hand over anything and everything that has value to those that will run this country from now on...(revolution isn't anything historically new however. But we are just a wee bit outta practice). When the state goes bankrupt we will sell off "our collective indebtedness"...and by that I mean we will never be able, or allowed rather, to be out of debt, that's not the point...ownership is the point. This is what motivates Austerity, the antagonist of Democracy world wide. Lets face it. Democracy (as we knew it) is cooked & the Corporations have us by the balls. And the beat goes on...

11 months, 3 weeks ago

It has been historically noted that those revolutions that tend to succeed are committed with various types of smiles on the revolutionaries faces. For some it's a sense of accomplishment, while others would just have a sh*t eating grin well juxtaposed ... if I may be so bold...while still others seem to have had a strange sense of serenity about it all. Those are the one's you wanna look out for. The serene ones. No bull...

James Howlette 11 months, 3 weeks ago

Yet another reason Trabert was busy freaking out all over some of the previous threads. It's not even close to October yet.

Lynn Grant 11 months, 3 weeks ago

But everything is peachy in Brownback's world.

Steve King 11 months, 3 weeks ago

Darn the President. See what he's doing to us? All that golfing and not leading like many of you suggest is killing our state economy. Sam said so. I mean look at California. Totally opposite approach than Sam and crew. And such suffering you'd never seen...everything is growing again and all at once. Cups are running over. There's a surplus in the state back account. It's like they got a shot of...

Larry Sturm 11 months, 3 weeks ago

Brownback keeps feeding us lies and the Koch brothers lies.

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