General Revenue Collections Up So Far
A bit of good news for the coming legislative session is that General Revenue Fund collections are up over the previous year. This means we have more to save for future revenue downturns, which we all know are an inevitable part of the economic cycle. It also means we have more to work with when considering the core needs of state government. We must be good stewards of state money and not spend every dime we have.
Collections in December were $620.6 million, up $108 million, or 21.1 percent, from collections in December 2017. Total collections over the first six months of the fiscal year are $442.1 million, or 15.8 percent, above prior year collections.
While these figures are positive, we must remain mindful that oil prices are trending low, and that always has an effect on state revenue.
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