Wyoming facing financial trouble amid soft energy market
Wyoming Gov. Matt Mead says he intends to call on lawmakers to spend an undetermined amount from the state’s $1.5-billion rainy day fund to cover government operations in the face of sagging energy revenues.
The state’s Consensus Revenue Estimating Group released its annual revenue forecast Monday. The group projects revenues will fall about $156 million short of covering the two-year, $3-billion general fund budget that started in July.
The projected shortfall comes despite Mead cutting $250 million from agency budgets this summer.
Mead told reporters Monday he’s not proposing additional agency cuts and says the state should be able to cover shortfalls in agency funding when the Legislature convenes next year.
