Wednesday, March 13, 2013
Kansas Treasurer Ron Estes is reminding legislators to be mindful of maintaining healthy cash balances as they draft the state's budget for the coming fiscal year.
The Wichita Republican said Wednesday that the state has been able to pay its obligations to schools and other bills on time.
Critics of cuts to state income taxes have raised concerns that the revenue reductions hamper the state's ability to pay its bills on time and adequately fund programs.
Estes says the state has been able to maintain healthy cash balances, in part due to the routine practice of borrowing from state idle funds.
The state borrowed $400 million in idle funds in July 2012 to help manage cash flow in the current fiscal year, down from $600 million the previous year.