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State budget monitor shows $97.6 million projected shortfall but retains multi‑hundred‑million reserve
Summary
A legislative budget presenter told the Joint Finance‑Appropriations Committee that year‑to‑date revenue collections trail the forecast, producing a $97.6 million projected shortfall for the fiscal year, but the general fund still carries several hundred million dollars of cushion heading into the next fiscal year.
A staff budget presenter told the Joint Finance‑Appropriations Committee that the state faces a projected $97.6 million shortfall for the current fiscal year, but that available reserves and carryforward reduce immediate fiscal stress.
The presenter said year‑to‑date collections total about $4.7 billion and that the last two months of the fiscal year typically bring another $1.1 billion, leaving the state about $100 million shy of the adopted forecast. “Right now, we’re about a hundred million dollars behind, and so we will need to start running some surplus for the months…
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