54°
Baton Rouge, Louisiana
3 Day Outlook
Mon
82°
59°
20%
Tue
83°
63°
50%
Wed
81°
65°
20%
TrueView© Local Radar

Latest Weather Blog

Follow our weather team on social media

Bond Commission backs Jindal plan for surplus cash

11 months ago Thursday, April 17, 2014 8:22:57 AM CDT April 17, 2014 Thursday, April 17 2014 Apr 17, 2014 in News
Source: Associated Press

BATON ROUGE - Gov. Bobby Jindal's plan to use $210 million in surplus and one-time money to help balance next year's budget has received the backing of the State Bond Commission.

The plan is a budget sleight of hand, using dollars that are limited in how they can be spent, to pay off debt early. The maneuver frees up the same amount of unrestricted money in next year's budget to spend on general operating expenses.

Treasurer John Kennedy suggested Thursday the plan violates the spirit of the state Constitution. He said it will create a hole a year later because the state will have another debt payment to make and the one-time and surplus dollars will be gone.

But Kennedy was the only Bond Commission member to vote against moving ahead with the debt pre-payment.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
Mostly Sunny
82°
60°
Mon
Partly Cloudy
82°
59°
Tue
AM T-Storms
83°
63°
Wed
AM Clouds / PM Sun
81°
65°
Thu
T-Storms
86°
68°