(Net)-Stinner Proposes Trimming Budget Reserve To Cut Shorfall Listen
LINCOLN, Neb. (AP) - 48th District State Senator John Stinner of Gering, chairman of the Appropriations Committee, wants reduce the $288-million shortfall still facing the next biennial budget by trimming the required budget reserve from 3% to 2% to free up about $85-million dollars.
Stinner, a retired banker and accountant, told NET News Wednesday that taking the reserve down to 2% will help avoid even deeper cuts to balance the budget.
Stinner says if it turns out a 2% reserve isn't enough to cover unexpected expenses or further drops in revenue, the state can always borrow from its "rainy day fund" or cash reserve account...which is expected to be over $550-million dollars in 4 years.
Stinner's proposal is scheduled for a public hearing next Wednesday.
Back to News
Printer Friendly Version
Send Story to a friend.