A new forecast of demand for state services has added $56 million to the state’s bottom line for the rest of the current two-year budget cycle.
That helps to pad the state’s rather small unrestricted budget reserve and continue to promote the kind of budget stabilization witnessed in 2012 on the heels of a deep economic downturn. A new forecast of state revenues was produced just last week projecting tax collections to continue to come in as previously anticipated.
There wasn’t much coverage of the news today but you can find some here and here.