Gov. Ricketts Comments on Risky Budget Maneuver

Statement

Today, Governor Pete Ricketts issued a statement following a vote by the Legislature's Appropriations Committee to lower the state's general fund minimum reserve from 3 percent to 2.5 percent for the next two years. The minimum reserve is essentially the buffer the state maintains in its checking account to avoid unnecessary borrowing from the state's rainy day fund.

"Instead of setting priorities and making needed cuts to spending, Appropriations Committee members have placed the state's finances on shaky ground by lowering the minimum reserve in our checking account. I urge the full Legislature to reject this proposal and to roll up their sleeves and get to work on cutting spending to bring the budget into balance."

Source