The state of Hawaii has set aside a $25 million contingency fund to help to lessen the impact of federal spending cuts caused by sequestration. Governor Neil Abercrombie stated, “Obviously, that can’t take into account every possible avenue of expenditure and time frame associated with federal dollars, but we think that gives us at least a solid financial foundation. The contingency we have, we think, meets a reasonable standard of preparedness that will enable us to deal with the consequences as they unfold.” Kalbert Young, the State Finance Director, added, “Make no mistake. It is not presumed that every program that loses federal funds will be able to be accommodated to maintain their current operational level.”
Source: Honolulu Star Advertiser, 3-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
