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OMB: state closed 23‑25 biennium stronger than forecast; early 26 revenues below forecast
Summary
Office of Management and Budget officials said the state ended the 2023–25 biennium with revenues $116 million above forecast and roughly $327 million of agency turnbacks, improving the starting position for 2025–27.
Office of Management and Budget analysts told the Government Finance Committee that North Dakota concluded the 2023–25 biennium with stronger-than-expected revenue and turnbacks, producing a higher starting balance for the 2025–27 biennium — but noted early revenue timing shortfalls in the first months of the new biennium.
"The revenues number of 5,638,000,000 is a 116,000,000 higher than the forecast that you adopted in the budgeting process," Joe Morissette of OMB told the committee,…
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