Kansas Starting to See Effects of Financial Turmoil

By: AP
By: AP
Traders on the floor of the New York Stock Exchange watch a television monitor as the vote on the bailout package is counted, Monday Sept. 29, 2008. Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House. (AP Photo/Richard Drew)

Traders on the floor of the New York Stock Exchange watch a television monitor as the vote on the bailout package is counted, Monday Sept. 29, 2008. Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House. (AP Photo/Richard Drew)

TOPEKA, Kan. (AP) _ State government is feeling the effects of turmoil in the nation's financial markets.

The Legislative Research Department reports a host of signs that businesses and individuals are earning less income than expected. That could make budgeting next year more difficult.

The department says revenues for the first quarter of the 2009 fiscal year were nearly $19 million below expectations, at a little less than $1.4 billion. The first quarter ended Sept. 30.

Corporate and individual income taxes provided a little more than half of the state's revenues. Those collections were 4 percent below expectations.

Gov. Kathleen Sebelius says officials worry about the health of the state's pension fund and multiyear transportation projects.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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