The Economic and Revenue Forecast Council’s monthly Economic & Revenue Update is out today. For the May 11 to June 10 month, “headline” general fund–state revenue collections were $15.1 million greater than the forecast. However, excluding special factors–$16.3 million in unanticipated refunds and a $31.4 million one-time transfer to the general fund–collections were $1.1 million less than the forecast.

For the four-month period from February 11 to June 10, collections are cumulatively $24.8 million greater than the forecast. Subtracting one-time refunds and payments reduces the positive variance to $15.7 million.

The Update is here and the press release is here.

The June revision to the revenue forecast will be released next Wednesday (June 20). With collections on track and little change to the economic forecast, I do not anticipate a large change to the revenue forecast.