Each Kansas taxpayer’s financial burden equals $5,800. Read report here: 2009 Kansas Financial State of the State Share and Enjoy:
(KansasReporter) TOPEKA, Kan. – Kansas’ theoretically balanced state budget is actually $5.2 billion out of whack, a governmental accounting watchdog group calculates. In fact, only four states – Wyoming, North Dakota, Nebraska and Utah – have enough money in their state treasuries or assets in their possession to cover all their financial obligations including promised [...]
After excessive review of the state’s financial report and actuarial reports, the Institute for Truth in Accounting has determined as of June 30, 2009 Kansas had $8.5 billion more in bills than assets to pay for them. Each taxpayer’s share of this shortfall equals $9,400. The Institute’s Kansas Financial State of the State reports Kansas [...]
(The Associated Press) A congressional impasse over a new economic stimulus package threatens to punch a $130 million hole in Kansas’ budget, only weeks after state legislators raised taxes to keep it balanced. The impasse also bubbled as a political issue Thursday. Kansas’ Sam Brownback has joined fellow Republicans in the U.S. Senate in opposing [...]
(Associated Press) A state sales tax increase to bolster the state budget remains in limbo in the Kansas House. The chamber held its voting open late Monday night and members switched their votes so that both supporters and opponents were prevailing at different times. Results often change during voting, even on major issues. The tax [...]
By Sen. Carolyn McGinn (The Kansan) Last week was the last of the regular Legislative session. Much of the session has been devoted to figuring out how and where to make cuts or other adjustments to close a $500 million deficit for 2011. I am writing this update before the final adjournment of regular session, [...]
(The Wichita Eagle) The state’s roads will be rougher and three HMOs will pay a fee as part of the solution Gov. Mark Parkinson proposed to close an $85 million shortfall in the current budget. In announcing the cuts Friday, Parkinson, a Democrat, also chided lawmakers for embarking on what he said was a “tax-cutting binge [...]
The following are excerpts from the Pew Center on the States report, “A Trillion Gap.” Kansas Unfunded Pension Liability $8,279,168,000 (as of June 30, 2008) 2008 Pension contribution should have been $ 607,662,000. Actual amount contributed $395,588,000. (62%) Unfunded Retirees’ Health Care Liability (OPEB) $316,640,000 2008 OPEB Contribution should have been $16,039,000. Actual amount contributed [...]
The Pew center said on Wednesday that Alaska, Colorado, Illinois, Kansas, Kentucky, Maryland, New Jersey and Oklahoma had, in essence, failed its new test because they made no meaningful progress on keeping their retiree benefit plans sound. The worst case was Illinois, with a $54 billion gap between the cost of the benefits it had [...]
Kansas Comptroller’s website: http://www.da.ks.gov/ Kansas’ Comprehensive Annual Financial Reports can be found at: http://www.da.ks.gov/ar/finrept/default.htm Kansas is required to pass a “balanced budget”. Section 75-3722 of the state law requires the “secretary of administration, on advice of the director of the budget, must assure that expenditures for any particular fiscal year will not exceed the available [...]
