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PSC alerts lawmakers to available unspent funds

JACKSON — Public Service Commissioner Brandon Presley (D-Nettleton) announced that the commission is sending a letter to the chairmen of the House and Senate Appropriations Committees making them aware of $4 million in unspent funds that is currently held in the Public Service Commission Regulation Fund. In the letter, the commissioners state that the money cannot be spent by the agency “and therefore is available to be transferred and reallocated as the Legislature sees fit.”

This announcement brings the total amount of funds returned to the Legislature by the PSC to $9 million in the past two years.  Last year commissioners volunteered $5 million in funds for reallocation.

In the letter the commission attributes the accumulation of the unspent cash to years of conservative spending by the current and former commissions.

“As a state agency, we need to pitch in and see how we can help the state get through this tough financial time. For us to hold onto money, which cannot be used, just for the sake of doing so, would be wrong.” Presley said. “I think in this fiscal crisis this is the kind of action Mississippians expect to see from their elected officials and state agencies.”

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