THE OFFICE OF STATE BUDGET DIRECTOR…..JOHN HICKS….HAS REPORTED BOTH GENERAL FUND AND ROAD FUND RECEIPTS DECLINED IN AUGUST COMPARED TO
LAST YEAR…..WHILE REMAINING HIGHER OVERALL FOR THE FISCAL YEAR…..
THE DECLINES WERE HIGHLY AFFECTED BY TAX RATE REDUCTIONS….AS TOTAL GENERAL FUND COLLECTIONS FELL FOUR-POINT-FIVE PERCENT……BUT FOR THE
FIRST TWO MONTHS OF THE FISCAL YEAR…..GENERAL FUND RECEIPTS HAVE INCREASED FOUR-POINT-TWO PERCENT…..
THE OFFICIAL GENERAL FUND REVENUE ESTIMATE CALLS FOR NO GROWTH…..SO RECEIPTS CAN DECLINE SEVEN-DENTHS OF A PERCENT FOR THE REMAINDER OF
THE FISCAL YEAR AND STILL MEET THE OFFICIAL ESTIMATE….
IT WAS THE SAME STORY FOR THE ROAD FUND……AS RECEIPTS DECLINED TWO-POINT-ONE PERCENT…..BUT FORTHE FIRST TWO MONTHS OF THE FISCAL YEAR
ROAD FUND RECEIPTS HAVE GROWN FIVE-POINT-SIX PERCENT…..MEANING ROAD FUND RECEIPTS CAN FALL FOUR-POINT-THREE PERCENT FOR THE REMAINDER
OF THE FISCAL YEAR AN STILL MEET THE OFFICIAL ESTIMATE…….
