State ends year with surplus, but Barbour urges caution

JACKSON — The state ended fiscal year 2011 with $94 million more in unobligated reserves than expected, leaving $285 million in reserves. This is according to the Governor’s Office.

Still, Gov. Haley Barbour urged conservative budget planning.

In a letter to legislators, Barbour wrote: “As my successor and you begin planning the budget for next fiscal year, I urge you to protect these reserves for FY 2013 and beyond.

“While Mississippi has experienced some positive economic growth with major projects announced in the previous year, we must remember that the national economic recovery is weak, and small- to mid-sized businesses, our main employers, have seen very little growth, despite gains on Wall Street.”

Source: Governor’s Office