Lawrence, KANSAS – State officials have announced that earlier this year, Governor Kelly signed a budget that made a historic $500 million deposit in the Fund and an Omnibus bill that had another $250 million deposit.
According to Gov. Kelly, before the fiscal year closed, $219.0 million more was transferred from the State General Fund.
The last deposit was made because FY22 revenues continued to beat estimates, leaving the state with higher than anticipated levels of cash.
Dear Kansas, the states’ Rainy Day Fund was created in 2017 when the Kansas Legislature ended the failed Brownback-era tax experiment that gutted state budgets and downgraded the state’s credit rating.
The previous all-time high balance in the Fund was $81.9 million.
Governor Kelly released the following statement:
“When I first came into office, Kansas had no savings, and in fact, was going into debt every year. My Administration worked to put Kansas on a consistent path of fiscal stability and economic growth. That work has paid off. This past fiscal year, we were able to save for the future in record numbers, fully fund K-12 education, make historic investments in law enforcement and higher education, and axe taxes – all without going into debt.”