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1
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MR. BOND: But your revenues are anticipated.
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2
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MR. DONAitO: He nay anticipate a deficit.
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3
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MR. HOFF: He has a right to.
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4
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MR. BOND: I see.
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5
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THE CHAIRMAN: While you are on that point,
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6
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John; how do you feel about John Lauber's balancing fund
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7
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idea?
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8
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MR. DONAHO: Well, it's all right, but I doubt
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9
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if it's a constitutional matter. That was what was
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10
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confusing .me. I think it should be left to statutes, becau
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11
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1 don't know how much you want to put in the Constitution,
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12
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in terms . Someone might have an even more ingenious idea
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13
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years from now.
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14
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THE CHAIRMAN: This is more on the idea of
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15
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achieving balance. Am 1 right about that?
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16
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MR. DONAHO: Obviously, this is a question of
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17
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what you are going to do with your surpluses . You can put
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18
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your surpluses into a reserve fund which can be a balancing
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19
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or stabilizing fund or you can say that the surpluses, you
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20
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cannot exceed, your appropriations cannot exceed that which
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21
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you have estimated in your revenues, that which you have
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