State Tax Revenue Continued To Beat Forecasts In March
The Division of Financial Management reports revenue collections for the month of March were 4.4 percent above predictions.
The monthly general fund monitor is a short-term indicator of the tax collections coming into the state, which are used to budget for and fund state programs.
Idaho’s General Fund increased by $138.1 million in March 2013, which is $5.8 million (4.4%) more than the forecasted $132.3 million. March marks the third consecutive month collections have exceeded expectations. As a result of this month’s stronger-than-anticipated collections, fiscal year-to-date General Fund revenues continue to exceed the forecast. Specifically, General Fund revenue for the current fiscal year through March 2013 is $1,835.9 million, which is 1.2% more than the projected $1,813.3 million. – Division of Financial Management
The Division reports this is the third month in a row where tax collections beat the forecast. However, the picture could start to change later this spring as annual state tax refunds are sent out.
You can read the full report here.