Gov. Bentley: $260 million repayment will be made to Rainy Day F - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Gov. Bentley: $260 million repayment will be made to Rainy Day Fund

Source: MGN Online Source: MGN Online

Governor Robert Bentley on Friday announced the state will be able to repay $260,388,971 to the Education Trust Fund's Rainy Day Account after the close of the current fiscal year.

"We're able to make this large repayment because of conservative budgeting and an improving economy," Governor Bentley said.  "More people are going back to work.  Unemployment is down.  Revenues are stronger than projected for the year.  We are committed to building on these improvements and fully restoring the Rainy Day Account."

The state transferred $437.4 million from the Rainy Day Account to support the Education Trust Fund in the 2009 fiscal year.  Last year, $14.4 million was repaid. The $260 million repayment announced by Governor Bentley on Friday represents substantial progress in the state's commitment to repaying the fund as soon as possible.  Full repayment is required by September 30, 2015.

The Rainy Day Account is part of the Alabama Trust Fund.  The formal FY 2013 repayment will be made in the first quarter of Fiscal Year 2014, which begins on October 1, 2013.

INFORMATION SOURCE: Governor's Press Office

  • Heartland NewsMore>>

  • What you need to know May 25

    What you need to know May 25

    Friday, May 25 2018 5:40 AM EDT2018-05-25 09:40:30 GMT
    Storms will start out the morning (Source: Stock image/Raycom Media)Storms will start out the morning (Source: Stock image/Raycom Media)

    Good Friday morning, it is May 25, 2018. First Alert Weather There is a better chance for scattered showers and thunderstorms today.

    Good Friday morning, it is May 25, 2018. First Alert Weather There is a better chance for scattered showers and thunderstorms today.

  • What you need to know May 24

    What you need to know May 24

    Friday, May 25 2018 5:17 AM EDT2018-05-25 09:17:57 GMT
    The sun should warm up the Heartland today.  (Source: Raycom Media)The sun should warm up the Heartland today. (Source: Raycom Media)

    Good morning it is Thursday, May 24. First Alert Forecast We’ll have another mainly dry, warm day.

    Good morning it is Thursday, May 24. First Alert Forecast We’ll have another mainly dry, warm day.

  • First Alert: Temps above average, Rain moving in Friday

    First Alert: Temps above average, Rain moving in Friday

    Thursday, May 24 2018 10:14 PM EDT2018-05-25 02:14:42 GMT
    Thursday night, it will be partly cloudy with lows in the mid to upper 60s. (Source: KFVS)Thursday night, it will be partly cloudy with lows in the mid to upper 60s. (Source: KFVS)

    Thursday night, it will be partly cloudy with lows in the mid to upper 60s.

    Thursday night, it will be partly cloudy with lows in the mid to upper 60s.

Powered by Frankly