For second time in 40 years, Idaho state government won’t borrow money to support cash flow, saving taxpayer dollars

Boise, Idaho – Given the state’s sturdy financial progress, the State of Idaho is not going to borrow cash within the bond market to fulfill anticipated money stream necessities for the upcoming fiscal 12 months.

That is the second 12 months since 1982 that Idaho is not going to concern a State of Idaho Tax Anticipation Observe (TAN) to fulfill the anticipated money stream necessities because of the time lag between when state income is obtained and when state bills are incurred.

“This transfer is about good authorities and prudent administration of taxpayer {dollars}. Given the unsure financial instances, we should decrease state borrowing and restrict the quantity of Normal Fund that’s dedicated to curiosity funds on loans,” Governor Brad Little stated.

The transfer was permitted right this moment by the Treasurer’s Credit score Ranking Enhancement Committee.

When the state points TANs, the state pays curiosity to an exterior entity. Lately the curiosity has averaged greater than $15 million to a nationwide financial institution. These taxpayer {dollars} shall be saved this 12 months by not issuing the TAN.

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