Revenue outlook not getting any better for state budget writers
JACKSON – Legislative budget writers, looking for positive revenue trends, as they work during the 2017 session to develop a budget for the next fiscal year, starting July 1, are not getting much encouragement.
Revenue collections for the current fiscal year remain disappointing – as they have been for more than a year.
The revenue report for the month of January compiled by the staff of the Legislative Budget Committee reveals tax collections and other revenue generated on a monthly basis, such as from interest on earnings, are $18.5 million below the projection.
For the fiscal year, revenue is $116 million or 4 percent below projections. The projection is important because it represents the amount of money appropriated by the 2016 Legislature for the current budget year.
Posted February 14, 2017 - 1:18 am