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CREC adopts revised revenue consensus; general fund projections trimmed, school-aid fund modestly higher
Summary
Principals at the Consensus Revenue Estimating Conference adopted a revised forecast that lowers general fund projections in each year, increases school-aid fund receipts modestly and yields a combined reduction in projected revenues across the three-year window.
Treasury, House Fiscal Agency and Senate Fiscal Agency principals adopted a consensus revenue forecast at the May 20 CREC meeting that reduces general fund-general purpose revenue compared with the January consensus while modestly increasing school aid fund receipts.
"The consensus revenue forecast you have before you, reduces general fund general purpose revenue, in each of the 3 years from what we agreed to in January," Treasury…
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