The latest quarterly revenue forecast of state tax collections projects a slight increase in expected collections for the current budget cycle as well as the next two-year budget cycle, compared to the previous quarterly forecast in June.
The Economic and Revenue Forecast Council released the September quarterly report yesterday projecting an increase of $29 million in general fund revenue for the current 2011-13 biennium. That brings the total forecasted general fund for the current biennium to $30.47 billion.
Projections for the 2013-15 biennium are $23 million higher than the June forecast, bringing the next two-year budget cycle’s projected revenue collections to a total of about $32.65 billion.
You can find the full report here. You can find coverage from the Olympian here and the Spokesman Review here.
The next forecast to be issued by the council is scheduled for November and again in the first quarter of next year before the Legislature writes a new two-year budget.