Posts Tagged ‘projected revenues and expenditures’

Smart Fiscal Management Contributed to Surplus

The November 2016 state economic forecast projected an official general fund surplus of $678 million in the current biennium and a $1.4 billion surplus for the upcoming FY 2018-19 biennium, as noted in a recent North Star article. The presence of surpluses is a welcome reversal from the preceding era of recurring budget deficits. At…

Read More

Don’t Base Large Tax Cuts on an Uncertain Forecast

The ink was hardly dry on the November 2016 forecast when conservatives started calling for big tax cuts. After all, there is a $1.4 billion surplus projected for the upcoming FY 2018-19 biennium—what better time to go on a tax cutting spree! However, a closer examination of the November forecast indicates that caution is in…

Read More

Modest Changes Mean a “Boring” November Forecast

The newly released November forecast shows only modest changes to state revenues and expenditures relative to what was projected at the end of the 2016 legislative session. As a result, the forecasted surpluses—now projected to be $678 million at the end of the current FY 2016-17 biennium and $1.4 billion in the upcoming FY 2018-19…

Read More