Friday, December 28, 2007
Kentucky in Financial Mess, Spending Cuts Are Next.
Kentucky Gov. Steve Beshear announced Thursday that at the current spending pace the state would run out of money before the end of June.
Beshear said the state has a budget shortfall of $434 million.
The governor says he will announce spending cuts next week.
The state's $18 billion budget for this fiscal year assumed revenue growth by 4.5 percent over the past year. The actual growth was .9%.
Last week Beshear rescinded pay raises that had been given to to members of the Kentucky Parole Board by former Gov. Ernie Fletcher.
Beshear said the state has a budget shortfall of $434 million.
The governor says he will announce spending cuts next week.
The state's $18 billion budget for this fiscal year assumed revenue growth by 4.5 percent over the past year. The actual growth was .9%.
Last week Beshear rescinded pay raises that had been given to to members of the Kentucky Parole Board by former Gov. Ernie Fletcher.
# posted by Joe Kinzer @ 12:57 AM 
