Flexibility needed for budget surplus
For a second straight year, Louisiana will have a surplus from last budget year.
And while due to rules set by Louisiana’s state constitution, surplus dollars can only be spent on certain one-time expenses, like debt payments, construction work and rainy day fund deposits, having extra cash on hand is always a good thing for a financially-strapped state.
State treasurer John Schroder said Louisiana recently closed the books on the 2017-18 budget year that ended June 30 with a cash balance exceeding $400 million, although those figures still need to be audited and double-checked.
