Log Out | Member Center

86°F

86°/64°

Kansas’ internal borrowing for budget declines

  • Associated Press
  • Published Tuesday, June 25, 2013, at 10:36 a.m.

TOPEKA – Kansas expects to rely less heavily on internal borrowing to pay its bills on time during the fiscal year starting in July.

Gov. Sam Brownback and legislative leaders on Tuesday unanimously approved $300 million in loans to the state’s general fund from other accounts. By law, the loan must be paid by the end of June 2014.

The general fund is the state’s main bank account. It is used to finance general government programs and provide aid to public school districts.

Because revenues don’t flow in consistently, the state has resorted annually to internal borrowing to temporarily meet its cash needs.

But the state shifted $400 million into the general fund during the current budget year and $600 million during the previous fiscal year.

Subscribe to our newsletters

The Wichita Eagle welcomes your comments on news of the day. The more voices engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views. Please see our commenting policy for more information.

Have a news tip? You can send it to wenews@wichitaeagle.com.

Search for a job

in

Top jobs