September 26, 2016
Joint Legislative Budget Committee
The JLBC Staff reports monthly to the Legislature on the status of General Fund revenue collections and other fiscal issues. See the full report here.
Among the key points of the document:
- August General Fund revenues were 12.7% above the prior year and $37.5 million above the enacted budget forecast.
- Forecast gains were concentrated in the Individual Income Tax and Insurance Premium Tax categories. These gains, however, were mostly due to technical timing issues related to the processing of tax collections.
- Year-to-date, excluding Urban Revenue Sharing and one-time revenues, General Fund collections are 3.6% above the prior year and are $22.0 million above forecast.