Maine Debt Plans Unchanged Despite August Revenue Boost

O'Brien, Elizabeth
September 2004
Bond Buyer;9/14/2004, Vol. 349 Issue 31968, p28
Trade Publication
This article focuses on current debt plans for Maine's finance after the August 2004 boost in revenues. According to a report published in the last week of August, revenues for Maine exceeded expectations by 54.8%. Total revenues were $72.5 million, including an unexpected windfall of $25.7 million. In spite of this revenue growth, the state's assistant treasurer, Adam Krea said that a surge in monthly revenues in August will not change the way Maine handles its short-term debt issuances this year. Krea said the state has begun to turn the comer, with a cash surplus at the end of fiscal 2004 enabling contributions to Maine's rainy-day and other funds.


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