Greenlee Partners

Tuesday, May 21, 2019

Budget


Budget Numbers...

The Independent Fiscal Office released its initial revenue estimates for the 2019-2020 fiscal year and things are looking good. IFO Director Matthew Knittel gave a presentation outlining the IFO’s projected 3.5% tax revenue growth in fiscal year 19-20. Knittel also reported that the state revenues for the current fiscal year are anticipated to exceed the IFO’s original projections by $860 million. He credited the strong revenue numbers as a result of the Federal Reserve keeping rates steady, strong corporate profits, gaming expansion, and the Supreme Court’s decision regarding internet sales taxation. The IFO projects General Fund growth at 2.9% for fiscal year 2019-2020. Now we wait and see…

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