QUINCY – Democratic candidate for State Senate John F. Keenan said he hopes the Legislature will show fiscal discipline and refrain from spending $450 million in one-time federal money this fiscal year.

Keenan said the money would be best saved for next year, when the state tries to balance a projected $2.5 billion shortfall.

“The state was able to balance its Fiscal Year 2011 budget, at least on paper, without using this money.  It may be that the funds will be needed to balance the FY 2011 budget at year end, so the state should be fiscally responsible now and not rush to spend the funds.  If the funds are not needed at year end, then they should be held aside for next year and used in a manner that is in the taxpayers’ best interests,” said Keenan, a Quincy City Councilor-At-Large and chairman of the Council’s Finance Committee.  

Keenan said the state must start living within its means, try to avoid balancing budgets with the use of one-time revenue sources, and should work to reduce the state’s debt.  He pointed out that the City of Quincy balanced its current budget while keeping tax bills level, and has a relatively low debt ratio. 

“The state must refocus its budgetary priorities on protecting local aid and core services, while ending its dependence on short-term borrowing and one-time sources of revenue,” Keenan said.