Mo. borrows $150M from reserve fund

Sunday, October 11, 2009

JEFFERSON CITY, Mo. -- Missouri has borrowed an additional $150 million from its reserves to keep state government operating.

The announcement Friday raises the total amount borrowed for cash flow purposes to $350 million since the state's budget began in July.

Budget director Linda Luebbering said that leaves about $170 million in Missouri's reserve fund.

The week before, Luebbering said more state spending cuts are likely because revenue is down 10 percent through the first quarter of the state's fiscal year.

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