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State borrows $150 million from budget reserve fund

Friday, October 9, 2009 | 11:17 a.m. CDT

JEFFERSON CITY — Missouri has borrowed an additional $150 million from its reserves in order to keep state government operating.

The announcement Friday raises the total amount borrowed for cash flow purposes to $350 million since the state's budget began in July.

Budget director Linda Luebbering said that leaves about $170 million in Missouri's reserve fund.

Last week, Luebbering said more state spending cuts are likely because revenues are down 10 percent through the first quarter of the state's fiscal year.

 


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