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Governor Sean Parnell's budget director says the administration doesn't expect a shortfall next fiscal year in the amount budgeted for work on a major natural gas pipeline project.
The state agreed to pay TransCanada Corp. up to $500 million in reimbursable expenses for work to advance a major gas line project. Parnell budget director Karen Rehfeld says $305 million has been appropriated to date for the project. She says that as of December 31, nearly $223 million has been paid to TransCanada. Parnell has proposed another $25 million for the project fund as part of his budget plan for fiscal year 2014.
A Legislative Finance report, released Monday, said the fund is expected to be $111 million short through 2014. But Rehfeld said Legislative Finance used an old report.