Contact Us
Make My Homepage

Wyoming’s Investment Returns Tilting Toward Assisting Budget

 

Courtesy of Anthony Sara

Gov. Matt Mead’s office says the latest Wyoming revenue figures continue to support his position that the state probably won’t have to cut agency budgets in the coming year.

The state’s Economic Analysis Division issued a report on state revenues this week. The Associated Press reports as of the end of March, Wyoming’s multi-billion-dollar Permanent Mineral Trust Fund was holding $218 million in undistributed capital gains. The release goes onto say other state investments hold another $105 million in capital gains.

The release states if these figures hold up, these very same gains will transfer to the state’s General Fund in July. The Associated Press says Wyoming is currently working under a two year $3.2 billion general funds budget. The report released states that by counting the investment income, the state’s General Fund and Budget Reserve Account revenues are running more than 37 percent ahead of annual projections.

The release notes how Mead vetoed legislation that would have required state agencies to propose a range of budget cuts. Mead has said he would propose cuts if the state’s financial situation made it necessary.

Renny MacKay, spokesman for Mead, said this week that the report shows Wyoming’s revenue picture is in good shape as the end of the fiscal year draws near.

“This report allows the state to prepare the upcoming budget using a measured approach that balances revenues and expenses,” MacKay said. “The governor had vetoed the automatic reduction language but pledged to make adjustments if the revenue picture came in lower than expected. At this point downward adjustments do not appear to be necessary.”

More News from KGAB

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kgab.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on KGAB 650AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on KGAB 650AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!