Georgia's rainy day fund is getting a badly-needed boost.

The state auditor has identified $54 million in lapsed funds from the fiscal year 2009 budget that will be returned to reserves.

Governor Sonny Perdue also said that the state had saved $35 million in debt service by refinancing approximately $658 million in bonds. Perdue said that every dollar saved means less that has to be cut from the already lean state budget.

The state is wrestling with a budget hole that's forced officials to institute deep cuts to agencies and furloughs for state workers.

Tags: Georgia, Governor Sonny Perdue, state budget, debt service, rainy day fund