Over the past year, oil and gas prices have fallen and coal production has struggled due to Federal regulations principally concerned with deteriorating air quality. Since a majority of state revenue is linked to these resources a tighter state budget will result with a trickledown effect to local governments. Counties, cities, and towns will most likely be facing similar tasks and working around balancing their future budgets with reduced sources of revenues. A great debate is expected when the legislature convenes in February relative to the wisest use of the state’s “Rainy Day Account,” off...
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