State Treasurer Steven Johnson endorsed legislation Tuesday adding $1 billion to Kansas’ budget stabilization fund and recommended the bill include provisions prohibiting withdrawals from the rainy-day account for one-time state government expenditures. The state’s reserve fund contained $980 million on Jan. 1. It was build by state law mandating total transfers to the fund of $969 million in 2022. A straight $750 million was deposited in the account. In addition, $219 million was forwarded to the fund because actual state revenue exceeded the revenue forecast.
Source: The Miami County Republic
