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Governor: Louisiana again has $300M estimated budget surplus

1 year 1 month 3 weeks ago Thursday, August 01 2019 Aug 1, 2019 August 01, 2019 11:25 AM August 01, 2019 in News
Source: Associated Press

BATON ROUGE, La. (AP) - Gov. John Bel Edwards says Louisiana will close the books on the last budget year with a surplus around $300 million, the third year in a row the state has taken in more money than it immediately spent.

The Democratic governor announced the surplus estimate Thursday at the Louisiana Sheriffs' Association summer conference during a gubernatorial candidate forum. Edwards said an official number of the leftover cash from the 2018-19 budget year won't be known for several more weeks.

He said the estimate comes from his budget analysts' calculations. Louisiana has had three years of surpluses: $123 million from the 2016-17 budget year, $308 million from the 2017-18 budget year and the latest one. Surpluses must be spent on certain one-time items like construction projects and retirement debt payments.

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