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

• Major General Fund-State revenue collections for the October 11 – November 10, 2015 collection period came in $16.1 million (1.1%) above the September forecast. Cumulatively, collections are now $43.9 million (1.7%) higher than forecasted. 
• During the previous collection period there was a $6.1 million audit payment that was not included in the forecast. Without this payment, cumulative collections would have been $37.8 million (1.4%) higher than forecasted.

The ERFC will meet on November 14 to adopt a revised revenue forecast. Given the positive collections reports for the last two months, I expect an upward revision.

Here is a chart snipped from the Update showing monthly seasonally-adjusted Revenue Act collections since 2004.