The Kansas Finance Council last week authorized the state to borrow up to $250 million from several of its fiscally healthy funds. The move comes after the state did not have enough money in early December to make its monthly payments to public school districts.
Gov. Kathleen Sebelius had suggested a loan of $400 million, but state budget officials said $250 million will be sufficient to meet the state’s needs through mid-February. The Legislature will convene Jan. 12