The Dickinson Press is reporting:
Revenues streaming into North Dakota’s general fund are beating
forecasts by $150 million so far during the current two-year budget
cycle that began July 1, but not all categories of tax collections saw
an increase last month, the director of the state’s budget office told
lawmakers Wednesday.
The state started the current two-year budget cycle on July
1 with a general fund balance of $1.65 billion. After expenditures, the
general fund is projected to end the biennium with a balance of $491
million – more than six times the $80 million forecasted at the end of
the legislative session last May.
“So it is quite a big
increase,” Office of Management and Budget Director Pam Sharp told the
Legislature’s interim Government Finance Committee.
In addition, the special funds (rounded):
- Budget Stabilization Fund: $585 million
- Legacy Fund: $1.8 billion
- Foundation Aid Stabilization Fund: $410 million
- Property Tax Relief Fund: $570 million
- Strategic Investment and Improvements Fund: $1 billion
No comments:
Post a Comment