Gov. Bobby Jindal’s administration has announced the size of last year’s budget deficit: $117 million.
Lawmakers were told Friday that the gap from the 2014-15 fiscal year was driven partially by higher-than-expected use of tax refunds and credits and also by anticipated fund transfers that weren’t available to plug gaps, the Associated Press reports.
The red ink must be addressed within eight months, before the current budget year ends.
Announcement of the deficit adds to a long string of state budget woes. And it comes as Jindal is running for the GOP presidential nomination and pitching himself as a strong manager of Louisiana’s finances.
Auditors will comb through the deficit figure, with a final number not expected until January. But the Jindal administration says it will try to deal with the deficit before leaving office.
