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Budget has $134M gap as fiscal year nears its end

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Posted: Jun 26, 2014 11:48 AM by Melinda Deslatte
Source: Associated Press

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Topics: Louisiana, budget, piecemeal funding, treasury funds

BATON ROUGE - More than $134 million in piecemeal funding used to balance this year's budget has yet to arrive in the state treasury, with the end of the fiscal year only days away.

The dollars are largely supposed to come from hospital lease payments, property sales and hurricane recovery spending reimbursements, according to a tally from Treasurer John Kennedy's office.

The fiscal year ends Monday.

Gov. Bobby Jindal's administration has borrowed from other treasury funds to keep dollars flowing to college campuses while it waits for the outstanding money to arrive. That borrowing must be repaid.

Commissioner of Administration Kristy Nichols says she expects the dollars to come in and the budget to stay in balance. But Kennedy disagrees, saying the administration will have to use accounting tricks to stay on track.

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