Anticipating $113 million shortfall, Gov. Matt Bevin asking agencies to cut spending by 1%
FRANKFORT, Ky. – The Bevin administration is asking state agencies to trim annual spending by 1 percent in June to help assure the state budget is balanced when the state’s fiscal year ends at the end of that month.
State Budget Director John Chilton wrote a letter on May 23 to cabinet secretaries and constitutional officers “to relay the Governor’s request that you take the necessary action to restrict year-end spending.”
Chilton asked that spending be trimmed “a minimum of 1 percent” of the total that cabinets had been budgeted to spend for this fiscal year.
The request, Chilton said, is prompted by a drop in state revenues this spring. A recent projection by Chilton’s staff says revenues to the state's General Fund will fall $113 million short of the $10.6 billion required to balance the budget.
Read more: http://www.courier-journal.com/story/news/politics/2017/05/31/gov-matt-bevin-asks-state-agencies-cut-another-1-percent-balance-budget/357565001/
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