State revenue collections for the month ending November 10 indicate that September’s quarterly forecasted collections remain on target, with a new forecast due out tomorrow.
A new report released yesterday indicates that since September, General Fund-State revenue collections are now cumulatively $31.0 million or 1.4 percent higher than expected.
Chief economist and executive director of the Economic and Revenue Forecast Council Steve Lerch said in a press release yesterday, “As anticipated, last month’s large positive Revenue Act variance was offset by a large negative variance this month. Positive variances in real estate excise tax and unclaimed property, however, limited this month’s shortfall in total revenue to $5.7 million.”