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Archive for Saturday, October 8, 2005

State revenues higher than expected

October 8, 2005

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— The state collected $52.8 million more in general revenues than anticipated in September, the Legislative Research Department reported Friday.

Collections were $486.7 million, the agency said. The state's official financial forecast, issued in April, predicted collections of $433.9 million. The difference is 12.2 percent.

Before September, revenues already were running ahead of expectations for the state's 2006 fiscal year.

From the start of the fiscal year on July 1 through Sept. 30, the state collected $66.5 million more than anticipated, a total of $1.22 billion. The official estimate was $1.15 billion, or 6 percent lower.

The Research Department said the revenues - mainly individual and corporate income taxes - show that the economy continues to grow.

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