McCrory: Storms' impact on state budget unclear
Posted February 26, 2015
Updated February 27, 2015
Raleigh, N.C. — Gov. Pat McCrory said Thursday that he needs to take a look at the cost of the back-to-back-to-back winter storms before rolling out his budget proposal next week.
"We're going to have to do some reassessment of how this will impact our long-term budget," McCrory said during a news conference to detail the state's response to the snow and sleet that hit much of North Carolina late Wednesday and early Thursday.
The state Department of Transportation has blown through most of its budget for clearing roads but has "a little bit of money left" if another winter storm hits in the coming weeks, he said.
McCrory plans to meet with budget director Lee Roberts to determine how much sales and income tax revenue North Carolina lost during the storms.
"When people aren't in the stores shopping or working, it does impact our budget," the governor said.
Economists with the General Assembly estimated two weeks ago that state revenue for 2014-15 was already about $271 million below projections, which would force lawmakers to dip into reserve funds to make up the shortfall.