State's Money Problems Grow

By: Associated Press
By: Associated Press

The state's top economists say that state revenues have come in lower than predicted. But they disagreed Friday on how much of a shortfall that leaves in the current budget.

The revised numbers are not expected to force cuts in school funding. School districts had feared they would be told yet again midway through the school year that the state would be giving them less money than expected.

State Treasurer Jay Rising estimates the state must deal with a $370 million shortfall, while Senate Fiscal Agency director Gary Olson estimates it will be closer to $467 million.

The shortfalls are in school aid and general fund budgets that took effect October 1.

The next revenue-estimating conference will be held in mid-January.

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