Idaho ended its fiscal year more than $8 million in the hole, though the state’s chief executive says things could’ve been worse.
Gov. Butch Otter and his financial staff closed the books Tuesday on fiscal year 2010. The fiscal year officially ended June 30, but it took several weeks to balance and certify the state’s budget and accounts.
The fiscal year ended with state facing an $8.26 million deficit based on the 2010 budget that was readjusted and approved by the Legislature.
Otter balanced the deficit by dipping into permanent building funds that were set aside by state lawmakers.
Gov. Butch Otter comments on balancing the FY2010 budget.
The governor says that Idaho is in a lot better position to emerge from this national economic downturn due to the cautious and conservative approach taken during Idaho’s budgeting process.
Otter explains how things could have been worse.
The state faced a $13.5 million budget deficit heading into the final two months of fiscal year 2010. The shortfall was trimmed to $9.5 million after May tax revenue beat forecasts. (AP)
