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ISSA Urges Refund to State
By Cameron Hanson
Managing Editor, Iowa Snowmobiler
In September, Iowa Governor Tom Vilsack estimated the state’s budget
surplus in excess of $300 million. The news certainly caught the ears of
snowmobilers in Iowa, and within a week, the ISSA Board of Directors
approved a resolution requesting funds robbed from the state snowmobile
program four years ago be promptly reimbursed.
In May of 2002, citing budget shortfalls, the Iowa Legislature de-
appropriated nearly $1 million in snowmobile program reserves and
shifted that non-tax revenue to the general fund. To date, the money--
generated exclusively by snowmobile registration receipts--has not been
refunded, and the ISSA is running out of patience.
“We want our money back,” ISSA President Terry Durby said at the
board’s September meeting. “We will be working with our lobbyists in
either drafting a letter to the governor and leadership or working with our
friends in the Legislature to ensure our depleted funds are replenished.”
According to Vilsack’s press release, the budget surplus is estimated to
be $332.1 million. Nearly $50 million of the additional dollars will be used
to restore funds borrowed from the Senior Living Trust, $2.8 million will
be allocated to the Regents Universities and an additional $160 million will
be used to fund property tax credits for the current fiscal year.
The approximately $119.5 million remaining will be deposited into the
state’s savings accounts, which will have a combined balance of $511.3
or 9.6 percent of total state revenues. The combined reserve funds are
full when they reach 10 percent of revenues.
“We have consistently managed our budgets in a responsible way which
is why we have substantial rainy day accounts and a near perfect bond
rating,” said Vilsack. “While many states and the federal government
struggle with managing their finances, we have lived within our budget,
provided tax relief for eight consecutive years, and given Iowans the
services they expect from state government. We have done all of this
while continuing to plan for the future.”
By Cameron Hanson
Managing Editor, Iowa Snowmobiler
In September, Iowa Governor Tom Vilsack estimated the state’s budget
surplus in excess of $300 million. The news certainly caught the ears of
snowmobilers in Iowa, and within a week, the ISSA Board of Directors
approved a resolution requesting funds robbed from the state snowmobile
program four years ago be promptly reimbursed.
In May of 2002, citing budget shortfalls, the Iowa Legislature de-
appropriated nearly $1 million in snowmobile program reserves and
shifted that non-tax revenue to the general fund. To date, the money--
generated exclusively by snowmobile registration receipts--has not been
refunded, and the ISSA is running out of patience.
“We want our money back,” ISSA President Terry Durby said at the
board’s September meeting. “We will be working with our lobbyists in
either drafting a letter to the governor and leadership or working with our
friends in the Legislature to ensure our depleted funds are replenished.”
According to Vilsack’s press release, the budget surplus is estimated to
be $332.1 million. Nearly $50 million of the additional dollars will be used
to restore funds borrowed from the Senior Living Trust, $2.8 million will
be allocated to the Regents Universities and an additional $160 million will
be used to fund property tax credits for the current fiscal year.
The approximately $119.5 million remaining will be deposited into the
state’s savings accounts, which will have a combined balance of $511.3
or 9.6 percent of total state revenues. The combined reserve funds are
full when they reach 10 percent of revenues.
“We have consistently managed our budgets in a responsible way which
is why we have substantial rainy day accounts and a near perfect bond
rating,” said Vilsack. “While many states and the federal government
struggle with managing their finances, we have lived within our budget,
provided tax relief for eight consecutive years, and given Iowans the
services they expect from state government. We have done all of this
while continuing to plan for the future.”