New Hampshire committee postpones taking money from savings to close 2009 books in the black
By APFriday, January 8, 2010
NH committee delays savings decision on 2009 books
CONCORD, N.H. — New Hampshire may be dipping into its savings to close the books on the fiscal year that ended June 30 — but no decision will be made for at least two weeks.
Administrative Services Commissioner Linda Hodgdon wants the joint legislative Fiscal Committee to approve transferring almost $80 million from savings to eliminate a deficit so the books can be closed. The committee decided Friday to postpone action on the request for two weeks. If approved, the state would have a balance of just under $10 million in savings.
The state wants to take $65 million from a fund that underwrites malpractice insurance to help close the budget hole, but the fund’s policyholders sued to block the removal. The state Supreme Court is considering the case.
