Republicans Worry State’s Running Out of Cash

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State Republican leaders said they're worried that the state's cash reserves are running low and officials are relying on borrowing earmarked for other projects to pay the bills in the meantime.

Rep. Vincent Candelora, the ranking Republican on the legislature's finance committee, voted on Tuesday at the State Bond Commission meeting against various projects, saying he's concerned that the state is potentially using bond funds to operate the government.

Candelora pointed to a memo he received from State Treasurer Denise Nappier, who said the state would have just over one week's worth of cash if $520 million in bonds are not approved this fall.

Gov. M. Jodi Rell, a Republican, said Nappier's office told her that the state does not have a cash flow problem.

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Copyright AP - Associated Press
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