State auditor positive about Iowa budget - KWWL - Eastern Iowa Breaking News, Weather, Closings

State auditor positive about Iowa budget

The Republican state auditor had mostly positive things to say about Governor Branstad's $6 billion budget plan for the coming year Monday.

Auditor David Vaudt says the governor and lawmakers have dramatically reduced the use of one-time funding sources.

However, Vaudt says IPERS, the state employees' retirement system, is only 80 percent funded leaving a nearly $6 billion shortfall.

Since the fund's largely dependent on the stock market, the market could go up as the economy improves erasing part of that shortfall. Vaudt recommends lawmakers and employees allocate more to better fund IPERS.

"I think the goal should be 100 percent funded. If you're going to count, then you need to put the monies away to actually provide those. Otherwise, what you're doing is simply deferring the cost of future generations," Vaudt said.

Vaudt also warned the governor's budget doesn't include money for employee raises, meaning departments may have to resort to layoffs, furloughs or leaving vacant positions unfilled.

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