Kansas Finance Council Approves $250M to Pay Bills

By: AP
By: AP

TOPEKA, Kan. (AP) _ The State Finance Council is allowing the state to use $250 million from idle accounts to help pay bills through mid-February.

The amount approved Tuesday is less than the $400 million that Gov. Kathleen Sebelius had wanted to help ease cash-flow problems through mid-April.

Instead, the council authorized a $250 million ``certificate of indebtness'' that will help through mid-February.

The council is made up of Sebelius and legislative leaders.

The certificate allows the state to take money from various idle funds to pay bills on time. It must be repaid by the end of the current budget year on June 30.

State Budget Director Duane Goossen said it's typical for bills to exceed revenue for the first part of the budget year. But he said revenue usually catches up later.

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

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