Bryant: $56 million cut from 2017 budget after accounting error

Bryant: $56 million cut from 2017 budget after accounting error

JACKSON, MS (WLOX) - Gov. Phil Bryant announced Wednesday an accounting error has forced him to cut $56,801,694 from Mississippi's budget for 2017.

"I am adjusting the budget for fiscal year 2017 to correct an accounting error that was discovered after the regular legislative session ended," Bryant said. "This represents an overall adjustment of less than 1 percent to the state's $5.8 billion budget."

Bryant said he is mandating 1.63 percent budget adjustments for most state agencies. The Mississippi Adequate Education Program, Student Financial Aid, Military, and Veterans Affairs are among the agencies exempt from these budget cuts.

"I am hopeful that these adjustments will be sufficient to get state government through this fiscal year, but budget cuts or transfers from the Rainy Day Fund may be required later," said Bryant in a letter to State Fiscal Officer Laura Jackson.

Bryant said a panel led by Speaker Philip Gunn and Lt. Gov. Tate Reeves has been formed to address what he calls "unsustainable" general fund spending.

"It is important to remember that general fund spending has increased 26 percent, five times the rate of inflation, the last four years. That kind of growth over such a short period of time is simply unsustainable," said Bryant. "Together, we will ensure that taxpayer dollars pay only for those services and programs that have clear benefits for Mississippians."

Copyright 2016 WLOX. All rights reserved.