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Story Archives: Louisiana must manage money better
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Louisiana must manage money better
One way Louisiana can reduce the $2 billion to $3 billion budget deficit next fiscal year is by doing a better job of collecting money owed the state.
Currently, $1.52 billion is owed by Louisiana citizens in the form of accounts receivable, spread across state government agencies. This amount is fairly consistent over time, and rarely falls below $1 billion. The debts include delinquent taxes, unpaid fees, fines, medical bills and bad checks. Over half of this $1.52 billion, or 58 percent, is over six months past due.
The National Association of State Auditors, Comptrollers and Treasurers (NASACT) recently conducted a study to identify the strategies states use to collect more of their debts. NASACT identified several steps taken by states that are serious about collecting money owed them and their citizens:
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John Kennedy serves as treasurer of Louisiana. |
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