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Tag Archives: Treasurer Lynn Fitch

S&P maintains state’s strong credit rating but waves caution flag

By TED CARTER The fiscal distress of Mississippi state government has not kept it from maintaining “AA” S&P ratings on its $4.3 billion in general obligation bonds and $1.1 billion in bonds backed by state appropriations. The ratings news came with a warning that the debt rating agency is concerned about the level of state spending amid sustained drops in revenue ...

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More budget turbulence: State short $56.8M for FY18

By Ted Carter A $56.8 million mistake in calculating state revenues will put state finances further in the hole as budget writers begin work on a fiscal 2018 budget. In a joint statement Tuesday, Lt. Gov. Tate Reeves and House Speaker Philip Gunn attributed the $56.8 million shortfall to a “staff error” that over-estimated revenues during the FY2017 budget negotiations. It ...

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Treasurer Fitch: Today's pepaid college program restart will help erase shortfall

By Lynn Fitch The Board of Directors for the College Savings Plans of Mississippi voted Monday to reopen Mississippi’s Prepaid Affordable College Tuition program (MPACT) for new enrollees beginning in fall 2014. The decision to reopen MPACT brings full circle a process the Board and the State Treasurer’s Office began 18 months ago. In 2012, the Board decided to defer ...

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