New Hampshire to take money from savings to close 2009 books in the black
By APFriday, January 8, 2010
NH to take money from savings to close 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.
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 plans to take up the request at Friday’s meeting. If approved, the state would have a balance of just under $10 million in savings.
The state had planned on taking $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 has the case but hasn’t ruled on the issue.
