Kelly administration pulls back loan payment

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Gov. Laura Kelly's administration has pulled back a loan payment that would have undercut her plan to balance the budget without deep cuts in response to economic fallout of the coronavirus pandemic.

Kansas Treasurer Jake LaTurner on Friday made the $132.1 million loan payment to the Pooled Money Investment Board, which invests idle state funds. LaTurner said he was required by state law to make the payment.

He said the Department of Administration reversed the payment. Delaying the payment is one of the building blocks of the governor's plan to get through at least fiscal years 2020 . . .

SSJ

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