This week, the nonpartisan Senate Fiscal Agency released revenue numbers from May 2016. Last month’s revenue earmarked for the General Fund (GF) and School Aid Fund (SAF) was $1.7 billion, which is $63.5 million higher than projections from the May consensus revenue estimating conference, and 9.5% above May 2015 numbers. Revenue to the GF was $19.7 million higher than projected, while SAF revenue was $38.2 million higher than anticipated. Net income tax revenue also increased 7.8% over the prior year’s levels, as did the sales tax receipts, which were 4.4% higher from May 2015.
To view the full monthly report, please click here.
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