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Kansas pays off Certificate of Indebtedness - KOAM TV 7

Kansas pays off Certificate of Indebtedness

Updated:

News release from the office of Kansas Governor Sam Brownback:

The State of Kansas paid off its$400 million Certificate of Indebtedness for Fiscal Year 2013 Friday. 

The stateissues an annual certificate to help manage its cash flow during the fiscalyear when expenditures and obligations outweigh revenue.

"Our work toreestablish a responsible ending balance has allowed the Brownbackadministration to lower the amount of certificates issued the last two fiscalyears as well as for the upcoming Fiscal Year 2014," Budget Director SteveAnderson said.

FY 2013 wasthe 14th straight year the state has issued a certificate.  Duringthe Brownback administration, the size of the annual Certificate ofIndebtedness has decreased by $300 million.

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