Babour – Oct. revenues fall short, Miss. needs to reduce spending

FOR IMMEDIATE RELEASE

CONTACT: Dan Turner (601) 576-2009; [email protected]
Laura Hipp (601) 576-2020; [email protected]

DATE: November 2, 2009

STATEMENT OF GOVERNOR HALEY BARBOUR ON THE CONTINUING DECLINE IN STATE REVENUE COLLECTIONS

Jackson, Mississippi – October reports show Fiscal Year 2010 state revenue continues to lag behind both budget projections and year-to-year comparisons, Governor Haley Barbour said today.

Revenues for the first four months of Fiscal Year 2010 dropped 7.5 percent, or $111.7 million below estimates. Revenue for the month of October was 6.74 percent, or $28.5 million below actual collections in October 2008.

“It’s clear we’re continuing to feel the effects of the national recession, and as we deal with these shortfalls and plan for the next fiscal year, it’s equally clear this cannot be business as usual,” Governor Barbour said. “There’s nothing on the horizon that would indicate state revenues are going to recover anytime soon, and that means state government needs to do the same things families all around Mississippi are doing – set priorities and reduce spending.”