State revenues up slightly: $30 million more for 2013-15; an additional $82 million in 2015-17

By: Richard S. Davis
12:00 am
February 19, 2014

The Economic and Revenue Forecast Council has released its quarterly revenue forecast. The headline on the press release says it well: Revenue forecast reflects minimal changes to economic forecast

This is pretty much what everyone expected. As Kriss wrote earlier this month when the ERFC released its collection report,

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.

More from today’s release:

Forecast of GF-S Revenue (probabilities in parenthesis): 2013-15

Baseline (55%): $33.013 billion; $30 million higher than the previous forecast.
Optimistic (15%): $34.750 billion; $1.738 billion more than the baseline forecast.
Pessimistic (30%): $31.291 billion; $1.722 billion less than the baseline forecast.
Governor’s Council of Economic Advisors’ assumptions: $33.094 billion; $81 million higher than the baseline forecast.

Here’s the link to the meeting handouts.

Categories: Budget , Categories , Current Affairs , Economy.