Building a Budget
on a Dream Using 'Maybank money' an
example of gimmicks
It would be foolish to plan to make your mortgage payments next
year with money you hope to get but aren't sure you will.
That's sort of what the General Assembly did in the state budget
this year. State Revenue Director Burnet Maybank told legislators
that if they would give him an extra $10 million to hire more tax
collectors, auditors and staff, he could bring in $90 million in
delinquent taxes.
The legislators wisely funded the request. That's an excellent
investment and should prove to be money well-spent.
But then the legislature immediately made plans to spend the
"Maybank money," as it has become known.
As Gov. Mark Sanford points out in a letter on this page, the
legislators should not have built their budget on that money. It's
another example of the gimmicks the legislature has long relied on
in its budgeting process.
We can hope the $90 million will materialize, and Maybank is so
confident he's bet his job on it. But there's no guarantee it
will.
If the money falls short, some agencies will be forced to do more
painful cutting. The lawmakers could have done better. |