Feb. 3, 2011
GOV. BARBOUR URGES LAWMAKERS TO MAINTAIN RESERVES, AVOID BUILDING DEFICITS INTO BUDGET
Gov. Haley Barbour today warned against excessive spending from the state’s “Rainy Day” and other reserves, intentionally under-funding certain state obligations and creating a patch-work budget by raiding special funds.
In a letter to the Legislature, Gov. Barbour cited seven areas of concern and reemphasized his intention to maintain at least $185 million in the reserve funds for the next administration.
“The sum of the budget problems identified in this memo is well in excess of the even $185 million in reserve funds my Executive Budget Recommendation leaves for the future, which leads me to fear the Legislature is heading down a path to deplete all ore almost all of our state’s reserve funds. As this is a path I cannot travel with you, I wanted to outline my concerns for you…”
See letter here