The state’s general fund revenue exceeded forecasts in December, but still trail year-to-date projections.
The general fund took in $131.39 million last month, 6.11 percent above expectations. Six months into fiscal year 2015, the fund is 1.69 percent, or $11.07 million, below target, Administration Secretary Jeb Spaulding said in a news release.
Personal income tax receipts, which have trailed projection each month this fiscal year, finished 1.75 percent below forecast in December. They remain 5.58 percent, or $19.07 million, behind for the year.
All three revenue funds — general, transportation and education — exceeded targets in December.
“The Transportation and Education Funds are now running slightly ahead of budget through the first six months of the fiscal year,” Spaulding said in a news release. “The lagging performance in the General Fund has been reduced by $7.6 million, leaving us $11.1 million behind for the year. That is consistent with the $12 million in spending reductions the Administration is already pursuing.”
The Transportation Fund was 9.61 percent, or $1.91 million, above projection for December. The fund is 0.89 percent above forecast for the year.
Education Fund receipts were 1 percent above forecast for December and are ahead of forecasts by 1.42 percent for the year.
