The Major General Fund-State revenue collections for the January 11 – February 10, 2016 collection period came in $23.7 million (1.5%) above the November forecast. During the period, there was a $27.9 million audit payment that was not included in the forecast. Without this payment, collections would have been $4.2 million (0.3%) lower than forecasted.

Cumulatively, collections are now $39.0 million (0.8%) higher than forecasted. A $10.8 million audit payment that was included in the forecast, however, has been delayed but is still expected to occur. Adjusted for the delayed payment and other large refunds and payments since November, collections would have been $30.6 million (0.6%) higher than forecasted.

The FRFC will meet next Wednesday, February 17, to issue an updated forecast of state revenues.