The state’s Economic and Revenue Forecast Council issued a new report today indicating tax collections over the past month have been slightly lower than expected.
Collections for the month that ended Thursday were $7.6 million, or 0.7 percent, lower than the forecast in February. Cumulatively, collections are $9.6 million, or 0.3 percent, higher than the forecast.
The news supports current thinking in Olympia that the next revenue forecast, due June 20, will be largely flat.
The state is currently operating on a rather small ending fund balance of a little over $300 million, most of which would require an act of the Legislature to tap.