State budget picture stops downward spiral

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By The Associated Press

Story Published: Mar 16, 2010 at 7:56 AM MDT

Story Updated: Mar 16, 2010 at 7:56 AM MDT

HELENA - The latest projection on state finances is still predicting a deficit by the middle of 2011, but for the first time in months that deficit is not growing.

Monthly updates from the Legislative Fiscal Division have painted an increasingly dim view as the effects of the recession hit state coffers.

An anticipated surplus near $300 million has shrunk to a projected shortfall of about $60 million. But analysts say that projection is holding steady since last month.

Gov. Brian Schweitzer is currently considering a series of budget cuts that the analysts say would erase that projected deficit.

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