Louisiana has budget surplus after all
By Jan Moller
October 17, 2009, 3:00AM
It's a far cry from the budgetary bonanza of recent years, but state government managed to pile up a $47 million surplus in the past fiscal year, state officials said Friday.
Oh but look what happens now. Once you "find" the money you were supposed to use on stuff it all ends up going down the "rainy day" drain.
Once the money is officially declared as surplus, likely to happen early next year, the state Constitution restricts how it can be used. It can't be plugged into the normal operating budget. Instead, it must be deposited in the state's rainy-day fund or used on "one-time" spending priorities such as debt repayment, road construction or coastal restoration projects.
Also good for building levitating trains, it sounds like. Or possibly dropping from helicopters.
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