State prepared for federal cuts

By Sarah Zoellick

POSTED: 01:30 a.m. HST, Mar 02, 2013

~~<p>Gov. Neil Abercrombie announced Friday the state will assess its budget needs in the wake of impending federal funding cuts and said a $25 million contingency fund included in his budget proposal to the Legislature will be sufficient — for now — to accommodate most of the cuts.</p>
<p>"Obviously, that can't take into account every possible avenue of expenditure and time frame associated with federal dollars, but we think that gives us at least a solid financial foundation," Abercrombie said. "The contingency we have, we think, meets a reasonable standard of preparedness that will enable us to deal with the consequences as they unfold."</p>
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Gov. Neil Abercrombie announced Friday the state will assess its budget needs in the wake of impending federal funding cuts and said a $25 million contingency fund included in his budget proposal to the Legislature will be sufficient — for now — to accommodate most of the cuts.

"Obviously, that can't take into account every possible avenue of expenditure and time frame associated with federal dollars, but we think that gives us at least a solid financial foundation," Abercrombie said. "The contingency we have, we think, meets a reasonable standard of preparedness that will enable us to deal with the consequences as they unfold." Login for more...