NC state budget has $600M-plus for any shortfall

RALEIGH, N.C. (AP) — North Carolina state government has at least $620 million at its disposal so far to close any budget hole this fiscal year.

State budget director Charlie Perusse (pur-ROOS') and the General Assembly's top economist gave legislative leaders Wednesday an update on the state's financial picture through October.

Perusse's office estimates it will have $469 million from unused funds and holdbacks of up to 5 percent from state agencies ordered by Gov. Beverly Perdue to ensure there's money to pay bills. There's another $150 million in the rainy-day reserve fund.

So far, revenues are $95 million less than what lawmakers projected when they passed the $19 billion budget in August. That shortfall is nowhere near the $3.2 billion shortfall Perdue faced last year.