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OMB: Preliminary November numbers show general fund near forecast, $381M estimated ending balance
Summary
Office of Management and Budget fiscal analyst Joe Morissette told the Budget Section that preliminary November figures put the biennial ending balance at about $381 million and revenues roughly $20 million below forecast; he said these are preliminary and OMB will issue a revised forecast in February–March.
Joe Morissette of the Office of Management and Budget told the Budget Section the state’s preliminary November figures show a $381,000,000 estimated ending balance for the biennium, roughly $155,000,000 higher than the estimate at the end of the last legislative session.
Morissette said preliminary revenues through November are about $20,000,000 below the official forecast — a variance of less than 2% — and that OMB is treating the shortfall as temporary for the purposes of the…
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