Researchers: Kansas Cash Balance to be Lower Than Expected
Associated Press - July 21, 2015 1:25 pm
Kansas legislative researchers say the state’s cash balance could be smaller next June than lawmakers realized when they approved increases in sales and tobacco taxes to fill a $400 million budget gap.
The Wichita Eagle reports the nonpartisan Legislative Research Department says Kansas will have about $67 million in its reserves by the end of the fiscal year, rather than the $86 million projected last month.
The lower number could fall even farther if Gov. Sam Brownback doesn’t find about $50 million more in cuts.
Brownback’s office said in an email it would continue focusing on reducing the cost of government for Kansas taxpayers.
Senate Minority Leader Anthony Hensley called the new numbers an ominous sign that the state will be facing another budget shortfall next year.