Louisiana's budget deficit from last year pegged at $117M
BATON ROUGE - Gov. Bobby Jindal's administration has announced the size of last year's budget deficit: $117 million.
Lawmakers were told Friday that the gap from the 2014-15 fiscal year was driven partially by higher-than-expected use of tax refunds and credits and anticipated fund transfers that weren't available to plug gaps.
The red ink must be addressed within eight months, before the current budget year ends.
But Barry Dusse, director of the governor's Office of Planning and Budget, says the Jindal administration will work to close the deficit before the governor's term in office ends in January.
Announcement of the deficit adds to a long string of state budget woes. And it comes as Jindal is running for the GOP presidential nomination and pitching himself as a strong manager of Louisiana's finances.