State Treasurer Samuel Shapiro says Maine will end the fiscal year at least $66

Authors

Source

Portland Press Herald

Date

6-21-1994

Pages

5B

Abstract

State Treasurer Samuel Shapiro says Maine will end the fiscal year at least $66 million in debt, even though state law requires a balanced budget. The state borrows up to $175 million in tax anticipation notes during the year to keep offices running, with those loans paid off through short-term borrowing from the state's cash pool. While the state never ended the fiscal year owing money to the cash pool prior to 1992, it has done so every year since.

Subjects

State finance

Recommended Citation

"State Treasurer Samuel Shapiro says Maine will end the fiscal year at least $66" (1994). Maine News Index – Portland Press Herald. 13430.
https://digitalcommons.portlandlibrary.com/news_pph/13430