The Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update today. Here are the key bullets on revenue from the summary:

• Major General Fund-State revenue collections for the January 11 – February 10, 2014 collection period were $6.5 million (0.5%) higher than the November forecast.
• Cumulatively, collections are now $1.7 million (0.0%) higher than forecasted.
• There have been $28.0 million in unexpected large refunds since the November forecast. Without these refunds, cumulative collections would have been $29.7 million (0.7%) higher than forecasted.

This is the last report on collections before the new state revenue forecast is issued on February 19.

There is little in this collections report to suggest that the new revenue forecast will differ greatly from the one that was issued last November. This view is reenforced by the preliminary version of the economic forecast upon which the new revenue forecast will be based, which is little changed from the economic forecast adopted in November.

Here is a link to the Update.