JACKSON — State revenue collections for September were 3 percent, or $12.3 million, above the estimate, based on preliminary figures released Friday.
For the first quarter of the fiscal year, state revenue collections are 2.6 percent, or about $25 million, above the estimate. The estimate represents the amount of money the Legislature appropriated during the past session. If revenue drops below the estimate, it could result in budget cuts.
For the quarter, the state has collected 3.7 percent more revenue than it did the previous year.
The official estimate for the fiscal year is for the state to take in $4.6 billion in primarily revenue collections, plus additional money in some other areas, such as investment on earnings. The $4.6 billion would represent growth of 1.4 percent over the previous year.
Daily Journal via the Sun Herald