CHEYENNE, Wyo. (AP) — Wyoming Gov. Matt Mead is set to release details of his budget proposal for the coming two-year state funding cycle.

Mead has set a press conference in Cheyenne for Thursday afternoon to discuss his budget proposal. He will address the Legislature's Joint Appropriations Committee next week.

Wyoming is projected to have nearly $1.5 billion in cash reserves at the end of the current budget cycle next June. Even so, top lawmakers have already served notice on the governor that they expect state agencies to prepare for possible funding cuts of up to 8 percent because of flat revenue projections.

Renny MacKay, spokesman for Mead, has said the governor plans to present lawmakers with some proposed spending cuts. But MacKay says some of the lawmakers' proposed cuts may not be sustainable.