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RIVERTON — The state will enter a “cash negative situation” by the end of 2020 unless huge budget cuts are made, revenue experts told the Joint Appropriations Committee. A 7-10 percent cut would allow the state to pay its bills through the beginning of 2021, Consensus Revenue Estimating Group co-chair Don Richards said in response to a question from Wyoming Sen. Eli Bebout, R-Riverton, who co-chairs the JAC. “There (would) be sufficient cash flow to get to the general session,” Richard said, referring to the regular meeting of the Wyoming L...
RIVERTON — A structural deficit in Wyoming’s K-12 school system will require a $222 million transfer from savings in the coming biennium, forecasters have informed the Joint Appropriations Committee. “That is what is supporting the school foundation program going forward,” said Don Richards, cochairman of Wyoming’s Consensus Revenue Estimating Group, “a transfer from the Legislative Stabilization Reserve Account.” The solution is not permanent: Richards said the LSRA is losing money, with its balance falling from more than $1.5 billion in th...
