North Dakota State's Budget Surplus: $1.6 Billion -- Staggering

If I understand the article, the estimated budget surplus two months ago was about $850 million; that estimate, two months later, has grown to $1.6 billion. This does not include an additional $1.1 billion restricted reserve access funds.

Link here to the Bismarck Tribune.

The main driver for the increased revenue is sales and use taxes. “That’s (sales tax) estimated to get to $2.1 billion in the current biennium, which is $713 million more than originally forecast,” Morrissette said. 

In July [two months ago] the estimated budget surplus was approximately $850 million, not including an additional $1.1 billion in various state reserve funds in which access is restricted. Something tells me the state legislators can hardly wait for the new legislative session to figure out ways to spend that money.

Go to the linked article; it is simply filled with incredible data.

Rumors that Governor Jerry Brown of California has opened a checking account with the Bank of North Dakota are probably just that: rumors. [Speaking of which, the BOND is the only state-owned bank in the nation, established in 1919 in anticipation of the discovery oil in 1951. Part of that last sentence is inaccurate -- the part starting with "in anticipation"].