Kansas to borrow $900 million, may delay payments to school districts

Kansas will have to borrow $900 million to get through next fiscal year and may have to delay payments to school districts to get through the current year.

It also will take more money from the highway fund and could tap a Medicaid fee fund.

The state faces a $45 million budget hole for the current fiscal year, which ends June 30. That could grow if June tax revenues fall short, budget director Shawn Sullivan told the State Finance Council on Wednesday.

Gov. Sam Brownback blamed the shortfall on the global economy, though a top Democrat pointed to the governor’s 2012 tax cuts as the cause.

Read more here: http://www.kansas.com/news/politics-government/article85257002.html#storylink=cpy