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Rainy Day Funds Could Save State Budget

August 20th, 2008 by flanews

Governor Charlie Crist could dip into rainy day funds to help plug a higher than expected budget shortfall. Last week economists estimated a state revenue decline of 1 point 4 billon dollars more than previous predictions. Lawmakers gave Crist permission to tap a billion dollars in reserves to balance the budget. Today Crist told reporters hes looking at all his options to keep the states bank account out of the red.

Youd rather not have to reduce, but well do what we need to have a balanced budget. Again I want to emphasis well have another estimate in November. Legislature comes back next March, and Im very grateful to the House and the Senate for giving the executive branch the authority to deal with this so they dont have to spend more money to come back and do a special session, said Crist.

Over the past two years lawmakers have cut 6 billion dollars in government spending. Economists say the decline in state revenues could continue for another year.

Posted in Charlie Crist, State Budget, State News | No Comments »

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