Nebraska's cash reserve needs a boost, fiscal analyst tells lawmakers

LINCOLN — Replenishing Nebraska’s cash reserve fund needs to be a priority in future legislative sessions, a panel of lawmakers was told Friday.

Legislative Fiscal Analyst Michael Calvert said budget decisions made this year are expected to reduce the fund to $369 million by June 30, 2021.

That’s half as much as the fund held one year ago and less than half the level that Calvert recommended to members of the Legislature’s Planning Committee.

He said a previous legislative study called for maintaining the reserve at about 16 percent of annual state revenue.

Read more: http://www.omaha.com/news/legislature/nebraska-s-cash-reserve-needs-a-boost-fiscal-analyst-tells/article_9cb8743a-7334-578b-9527-85fbbe36fff2.html