How Big Is Louisiana’s Deficit? Figure Expected Next Month
BATON ROUGE, La. (AP) — A dollar figure for Louisiana's budget deficit will be released next month, after the state's financial analysts finish reconciling the accounting books.
Louisiana leaders expect the state spent more than it brought into the treasury in the budget year that ended June 30. Gov. John Bel Edwards' administration says the gap could reach up to $300 million.
But the closing of the books on a state government budget year, with billions in income and spending is complex. The Revenue Estimating Conference — the state's income forecasting panel — was told Tuesday the accounting work is still underway.
A price tag for the deficit is expected to come at the Oct. 28 meeting of the Legislature's joint budget committee.
Whatever gap exists has to be closed in the current budget year.
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