Wrap: Governor Jay Nixon announced on Wednesday 900,000 dollars this year in savings and 4.8 million dollars in savings over the next fifteen years due to the state refinancing some of its bonds.

The state has gained 15.6 million dollars this year from bond savings.

Administration office spokeswoman Wanda Seeney wasn't sure where the money will be going.

Nixon credited the state's ability to balance the budget and its triple A credit rating for the savings.

Reporting from the state capitol, I'm Matt Kalish.

Wrap: Governor Jay Nixon announced the state was able to refinance its bonds providing 900,000 dollars in savings this year and 4.8 million dollars in savings over the next fifteen years.

But officials say they don't know where the thousands of dollars in savings are going.

Administration office spokeswoman Wanda Seeney says the budget office hasn't decided yet.

Nixon contributed the refinance to the state's balanced budget.

This comes after the state's highest court ruled Nixon has the right to withold funds to keep the budget balanced.

Reporting from the state capitol, I'm Matt Kalish.

Wrap: An extra 900,000 dollars will be going into this year's state budget after the state was able to refinance some of its bonds.

A day after Governor Jay Nixon announced the savings administration office spokeswoman Wanda Seeney is not sure where the money will be going.

The state will also save 4.8 million dollars over the next 15 years as a result of the move.

Overall the state has brought in an additional 15.6 million dollars this year through bond refunds or refinancing.

Reporting from the state capitol, I'm Matt Kalish.