Fiscal year 2015’s first month General Revenue Fund collections significantly exceeded those of the prior year and the estimate for this year,
Secretary of Finance, Administration and Information Services Preston Doerflinger reported Tuesday that July’s General Revenue Fund collections of $471 million were $61.2 million, or 14.9 percent, above prior year collections and $69.6 million, or 17.3 percent, above the official estimate. The estimate is what the FY2015 appropriated state budget is based. The new fiscal year began July 1.
“It’s nice to start this year strong after seeing GRF collections miss the estimate almost every month last year,” said Doerflinger. “There is still a long road ahead with various risks that could affect revenues along the way, but a good start is always better than a bad one.”
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