Idaho’s Division of Financial Management reports state revenue came in 4.6 percent below projections for October.
DFM’s monthly general fund revenue report shows individual and corporate income taxes came in below expectations, while Idaho’s sales tax collections exceeded forecasters’ predictions.
October revenue came in at $206.3 million, which is $10 million less than predicted. Fiscal-year-to-date general fund collections are at $874.7 million, which is $6.9 million — or less than a percentage point — below the state’s forecast.
The general fund is the main bank account the Legislature uses to fund state agencies. Lawmakers watch these revenue numbers to see how much money can be appropriated to certain programs each budget cycle.