Opinion Columns & Blogs

Would a true rainy-day fund have helped Kansas?

AP

Kansas’ leaders have had so much difficulty paying for the next two-year budget that they’ve largely ignored the state law requiring a 7.5 percent ending balance. Should the state long ago have done more to safeguard itself from revenue ups and downs? A Pew Charitable Trusts report last year titled “Building State Rainy Day Funds: Policies to Harness Revenue Volatility, Stabilize Budgets, and Strengthen Reserves” counted Kansas as among four states without budget stabilization funds and one of only two (along with Colorado) whose mandatory general fund balances “do not respond in any way to changing economic or fiscal conditions.” – Rhonda Holman

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