Kansas’ internal borrowing for budget declines
06/25/2013 10:35 AM
06/25/2013 10:36 AM
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.
Join the Discussion
The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.