Massachusetts plans to use trust fund money earmarked for distressed hospitals to help balance the state budget for the fiscal year that ended June 30, according to a State House News Service report.
Overall, Republican Gov. Charlie Baker's administration plans to raid more than 24 trust funds as part of the budget-balancing efforts, according to the report. Those sweeps are projected to collect nearly $140 million. The sweeps include collecting funds earmarked for distressed hospitals and water supply protection, as well as pivoting funds earmarked "for special purposes" to the Massachusetts general fund, the report states.
The State News Service obtained a letter Massachusetts Administration and Finance Secretary Kristen Lepore wrote to state lawmakers, detailing some specifics as far as funds Mr. Baker's administration plans to raid. In the letter, state officials said they plan to raid close to $24 million from the trust fund for distressed hospitals, $3 million from the Regional Tourism Councils Trust, and nearly $321,000 out of the Racing Stabilization Trust Fund.
The sweeps would be executed mid-August at the earliest.