NCGA: Budget Update from Jones St.

Budget writers are proof reading and finalizing last minute details on the $19 billion budget and the FMAP contingency to make up the $525 million in FMAP. One sticking point is when to take the FMAP contingency dollars-do we make the cuts now or hold off until January 1 to see what happens.

Mark Binker with the Greensboro News and Record is reporting the finally information on the details of the contingency dollars:

1) $177 million flexibility cut for all state agencies. It doesn’t deal with salaries. (There was a question among budget negotiators whether this was supposed to go into effect immediately or on Jan. 1.)
2) Reducing Medicaid provider rates. $26.6 million.
3) Reducing the general fund balance from the current year by $23.5 million
4) Transfer from the disaster reserve by $30 million
5) Use of interest from other funds: $50 million
6) Unclaimed lottery prize money $35 million
7) Reduce savings reserve by $37 million
8) Reduce the retirement fund contribution by $139 million

Read the rest of Mark Blinker's blog here.