State Treasurer Kate Marshall announced this week that her office has found $40 million in unanticipated revenue to help Nevada with its weakening budget position.
Gov. Jim Gibbons has announced plans to implement 4.5% cuts in most agency budgets as the state grapples with weaker-than-projected tax revenue.
Of the $40 million, $23 million will come from the state’s unclaimed property fund, while the balance is from bond funds.
“The $17.2 million is interest earnings on our bond fund that has accumulated since 2001,” Marshall said. “The interest earnings just accumulate — they sit there in the fund, not pledged.”