“We’re going to have to go back down and make more cuts,” Sen. Preston Smith, R-Rome, said at a post-legislative assessment of the session that ended in April.
Smith said the state “will effectively zero out” its rainy day fund when fiscal year 2009 ends June 30. “We will end up with effectively nothing in reserve”
Legislators also predict the area will go into fiscal year 2010 on July 1 with a $462.7-million deficit “if there are no further declines” in revenue collections.
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