Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
JUNEAU, Alaska (AP) — The Senate Finance Committee has proposed using reserve funds still available this year to make additional contributions toward the state's pension obligations.
In drafting its version of the state operating budget, the committee removed provisions passed by the House stashing available reserve funds this year into pots that would be used toward next year's teachers' pension payment and state education costs over the next three years. Senate Finance co-chair Pete Kelly says the intent is to make budgeting as simple and transparent as possible.
The draft includes a $100-million cut to be spread across executive branch agencies, though Kelly says that probably will be a placeholder as bills geared toward cutting costs work through the process.
The committee is working to finalize a budget bill to send the full Senate.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
