Bryant orders budget cuts, raids rainy day fund

“I am hopeful these two actions, totaling a $75 million adjustment to the fiscal year 2016 budget, will be enough to get state government through the fiscal year,” Bryant said in a letter to the state’s fiscal officer ordering the cuts. “However, additional cuts or transfers from the rainy day fund may be required later.”

Bryant is cutting $39.8 million in spending and taking $35.2 million from the rainy day fund to cover the revenue shortfalls.

Most state agencies will face 1.5 percent cuts for the last half of the fiscal year that ends in June.