Report: Kansas Government has 2 Days’ Worth of Cash Reserves
Associated Press - September 29, 2016 1:49 pm
A recent study says the Kansas government could run on its cash reserves for only two days.
The Wichita Eagle reports that Pew Charitable Trusts analyzed cash reserves for all states at the end of the most recent fiscal years and estimated how long state government could continue to function if it relied on those reserves.
Kansas ended the 2016 fiscal year in June with a $35 million balance. The study says the average state has about 29.2 days of reserve funds.
Gov. Sam Brownback’s spokeswoman, Eileen Hawley, says the study reflects a steep drop off in the oil and agriculture economies. Hawley says other states with similar economies have also experiences declines in their state reserve funds.