AL Budget Turmoil

Oct. 23, 2008

Montgomer, Ala.(WTVM)-- The turmoil on Wall Street has created a $117 million hole in Alabama's $2 billion dollar operating budget.

The governor and the legislature designed this year's General Fund budget in anticipation of getting the millions in capital gains from investments in the Alabama Trust Fund.

Unfortunately there were no capital gains to transfer to the general fund because the investments lost money.

State officials are taking a look at expenses before they decide which budgets will be cut.