BATON ROUGE - Louisiana's state agencies and colleges are being asked to prepare for budget cuts of as much as 10 percent of their state financing because of a deficit from last year that could reach $300 million.

Gov. John Bel Edwards' administration notified departments this week of the possible cuts.

Agencies say they've been asked to draw up scenarios for slashing 7 percent to 10 percent of their state general fund revenue. That's the money they get from general tax collections - not their fines, fees and other dedicated financing sources.

The agriculture department, secretary of state's office, lieutenant governor's office and University of Louisiana System, among others, have confirmed receiving cut figures.

The deficit is driven in part by lagging business tax collections. A precise figure hasn't yet been released publicly.