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April 22, 2022Topeka, KS |  By: AP

Ahead of new forecast, Kansas banks $500M for emergencies

TOPEKA, Kan. (AP) - Kansas will set aside $500 million to deal with future financial problems, give state employees a 5% pay raise and increase spending across state government.

Gov. Laura Kelly signed budget legislation into law Wednesday that contains the bulk of the state's $22 billion-plus budget for the 12 months beginning July 1, aside from money for the state's public K-12 schools. Kelly signed the measure ahead of a meeting Wednesday of state officials and university economists to draft a new forecast for state tax collections through June 2023.

The new forecast was expected to be more optimistic than the previous one issued in November.