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Education Avoids Further Cuts
Thu August 2, 2012
Education Fund Revenue On Pace To Meet Expenses
A state official says the Alabama Education Trust Fund should collect enough state income taxes and other levies to meet its spending target for this fiscal year and avoid across-the-board cuts.
Assistant state Finance Director Bill Newton made the comments Wednesday.
Newton also predicted the state general fund, a major source of state money for Medicaid, prisons and other non-education areas of government, should collect enough revenues to meet its trimmed spending target for the year without further cuts.
State officials say the Education Trust Fund collected $4.51 billion in October through July, the first 10 months of the state's fiscal year, an increase of $250.7 million, 5.9 percent, from the same period a year earlier.
Copyright 2012 The Associated Press.