![Louisiana May Need Short-term Loan For Temporary Cash Flow](http://townsquare.media/site/36/files/2014/07/Money-18-iStock.jpg?w=300&h=200&zc=1&s=0&a=t&q=89&w=980&q=75)
Louisiana May Need Short-term Loan For Temporary Cash Flow
BATON ROUGE, La. (AP) — Louisiana is laying the groundwork for possibly taking out a short-term loan to pay the state's bills.
The Bond Commission on Thursday agreed without objection to start the process, with a final decision in August.
Gov. John Bel Edwards' administration, Treasurer John Kennedy's office and legislative leaders are monitoring state cash flow to determine if the loan will be needed temporarily.
The state usually borrows from its own savings accounts until tax collections, fees and other payments roll into the treasury. But former Gov. Bobby Jindal and lawmakers raided many of those accounts to patch together prior budgets, leaving the state with fewer reserves for short-term borrowing.
Kennedy said the state last took out a similar short-term loan nearly 30 years ago, but local governments regularly use the maneuver.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
More From News Talk 96.5 KPEL
![Truck Crashes Through Louisiana Convenience Store, Injuries Unknown](http://townsquare.media/site/36/files/2024/07/attachment-451428443_875361657961063_9009058308210370374_n.jpg?w=980&q=75)
![Lafayette Police Seek Public’s Help in Identifying iPad Theft Suspect](http://townsquare.media/site/36/files/2024/07/attachment-Untitled-design-2024-07-15T194605.280.jpg?w=980&q=75)
![Alleged Donald Trump Shooter Spotted Nearly 30 Minutes Before Shots Fired](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2161431349.jpg?w=980&q=75)
![WATCH: Would This Viral ‘Texas Gumbo’ Pass a South Louisiana Inspection?](http://townsquare.media/site/36/files/2023/12/attachment-Texas-Gumbo-Pepper-Belly-Pete.jpg?w=980&q=75)
![Donald Trump Has Made His Vice Presidential Pick](http://townsquare.media/site/36/files/2024/07/attachment-GettyImages-2159730000.jpg?w=980&q=75)
![CHECK IT OUT: You Can Rent This Awesome Tower in New Iberia, Louisiana](http://townsquare.media/site/36/files/2024/07/attachment-new-iberia-airbnb-2.jpg?w=980&q=75)
![Man Wins $100,000 With Lottery Strategy From Watching ‘Lottery Changed My Life’](http://townsquare.media/site/33/files/2022/04/attachment-giorgio-trovato-BRl69uNXr7g-unsplash.jpg?w=980&q=75)
![Louisiana to be Prominently Featured at Republican National Convention](http://townsquare.media/site/36/files/2024/07/attachment-RNC-LOGO.jpg?w=980&q=75)
![Earthquake Centered Near New York City Rattles Northeast](http://townsquare.media/site/36/files/2018/07/E4J7DD.jpg?w=980&q=75)