| Table 3. FY 2006 General Fund Revenue Collections
(Compared with the Revised Estimate) |
|
State |
Above |
Millions of Dollars |
Percentage |
On Target |
Below Target |
Millions of Dollars |
Percentage |
Comments |
|
Alabama |
x |
$30.0 |
6.5% |
|
|
|
|
|
|
Alaska |
|
|
|
x |
|
|
|
|
|
Arizona |
x |
$91.0 |
1.8% |
|
|
|
|
|
|
Arkansas (N/R) |
|
|
|
|
|
|
|
|
|
California |
x |
$141.0 |
0.3% |
|
|
|
|
Revenues keep soaring. |
|
Colorado |
x |
$90.0 |
1.5% |
|
|
|
|
|
|
Connecticut (N/A) |
|
|
|
|
|
|
|
|
|
Delaware |
x |
$200.0 |
6.6% |
|
|
|
|
General fund revenues are 12.4% over the first seven months of the previous fiscal year. |
|
Florida (N/A) |
|
|
|
|
|
|
|
|
|
Georgia |
x |
$740.0 |
4.4% |
|
|
|
|
|
|
Hawaii |
|
|
|
x |
|
|
|
|
|
Idaho |
x |
$29.6 |
1.4% |
|
|
|
|
|
|
Illinois |
|
|
|
x |
|
|
|
The revision reflects the executive estimate used in the FY 2007 Budget Book. The estimate will be updated in mid March. However, preliminary data indicate both FY 2006 estimates will be very close. |
|
Indiana |
x |
$95.4 |
1.3% |
|
|
|
|
|
|
Iowa |
x |
$56.7 |
1.0% |
|
|
|
|
If growth continues at 2.5% (or above the December revised growth estimate of 1%), the Revenue Estimating Conference, which met on March 24, might revise estimates for FY 2006 and FY 2007. |
|
Kansas |
x |
$73.1 |
2.3% |
|
|
|
|
This information is based on the November 2005 estimate and is scheduled to be revised again in April 2006. |
|
Kentucky |
x |
$108.0 |
2.2% |
|
|
|
|
|
|
Louisiana |
|
|
|
x |
|
|
|
|
|
Maine |
|
|
|
x |
|
|
|
|
|
Maryland |
x |
$76.1 |
1.1% |
|
|
|
|
This over-attainment is relative to the December estimate. |
|
Massachusetts (N/R) |
|
|
|
|
|
|
|
|
|
Michigan (N/A) |
|
|
|
|
|
|
|
|
|
Minnesota |
x |
$23.0 |
0.1% |
|
|
|
|
|
|
Mississippi |
|
|
|
x |
|
|
|
Revenue estimated adopted March 15, 2006, and is too early to tell if actual will be above or below. |
|
Missouri |
|
|
|
x |
|
|
|
|
|
Montana |
x |
N/R |
N/R |
|
|
|
|
In the three months since the last estimate revision, the outlook for collections has been up slightly, but no specific estimate is provided because it is not based on a reliable trend. The overall trend for general fund revenues appears strong. |
|
Nebraska |
|
|
|
x |
|
|
|
The revised estimate is consistent with year-to-date results for the first eight months of the fiscal year. Officials expect that actual revenues for FY 2006 will be very close to the revised estimate. |
|
Nevada (N/A) |
|
|
|
|
|
|
|
|
|
New Hampshire (N/A) |
|
|
|
|
|
|
|
|
|
New Jersey (N/A) |
|
|
|
|
|
|
|
|
|
New Mexico |
x |
N/R |
2.8% |
|
|
|
|
Revenue estimates were revised downward in December and down again in January largely because of fluctuations in oil and gas prices. The net revision was down $102 million from the October estimate. |
|
New York |
|
|
|
x |
|
|
|
|
|
North Carolina |
|
|
|
x |
|
|
|
|
|
North Dakota (N/A) |
|
|
|
|
|
|
|
|
|
Ohio (N/A) |
|
|
|
|
|
|
|
|
|
Oklahoma |
|
|
|
x |
|
|
|
|
|
Oregon |
|
|
|
x |
|
|
|
It is too early to tell because the revision was issued on March 1. |
|
Pennsylvania |
|
|
|
x |
|
|
|
|
|
Rhode Island (N/R) |
|
|
|
|
|
|
|
There is no monthly tracking against the revised forecast. |
|
South Carolina |
|
|
|
x |
|
|
|
|
|
South Dakota |
|
|
|
|
x |
$5.5 |
1.0% |
|
|
Tennessee |
|
|
|
x |
|
|
|
|
|
Texas (N/A) |
|
|
|
|
|
|
|
|
|
Utah |
|
|
|
x |
|
|
|
|
|
Vermont |
x |
$7.9 |
0.7% |
|
|
|
|
This is the amount above the revised January 2006 general fund forecast. Transportation fund revenues are below target by $1.3 million (0.6%). |
|
Virginia |
x |
$134.0 |
1.5% |
|
|
|
|
Growth rate adjusted to reflect fact that $200 million negative sales tax adjustment will occur in June 2006. This adjustment reflects the end of requiring major retailers to accelerate June sales tax collections into the month of June rather than pay it in July as is typical. This is the last vestige of budget “gimmicks” used to address budget shortfalls in the early ‘00s.) Last year’s average growth rate for last four months of fiscal year was 13.2%. The February 2006 growth rate was 4.5%. Virginia expects the growth rate to decline over the last four months of the fiscal year. |
|
Washington (N/R) |
|
|
|
|
|
|
|
Unknown at this time. |
|
West Virginia |
|
|
|
x |
|
|
|
|
|
Wisconsin |
|
|
|
x |
|
|
|
|
|
Wyoming |
x |
$47.8 |
11.2% |
|
|
|
|
|
|
Number of States |
18 |
|
|
18 |
1 |
|
|
|
|
N/A = Not applicable: the forecast has not been revised (nine states).
N/R = No response (four states).
Source: National Conference of State Legislatures, March 2006. |
