JACKSON, MS (WLOX) - Mississippi Gov. Phil Bryant announced Thursday tax revenue for fiscal year 2017 has been less than expected, so he ordered a $55 million adjustment to the state's budget.
Bryant said the adjustments will include nearly $51 million in budget cuts for state agencies and the transfer of more than $4 million to the general fund from the "rainy day fund."
"I am hoping these two actions, totaling a $55 million modification to the FY 2017 budget, will be enough to get state government through the current fiscal year, however, additional cuts or transfers from our Rainy Day Fund may be required later," said Bryant in a letter to state fiscal officer Laura Jackson.
Bryant points out the adjustments equal less than 1 percent of the state's $5.8 billion operating budget.
In September 2016, Bryant announced a $56,801,694 cut for the 2017 budget. He said an accounting error led to the adjustment.
Several state agencies, including the Mississippi Adequate Education Program, Student Financial Aid, Military, and Veterans Affairs are exempt from these budget cuts.