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Tue July 3, 2012
Mo. ends fiscal year with higher than expected revenues
Missouri closed out its 2012 fiscal year with slightly better than expected revenues. But that doesn't necessarily translate to a budget surplus.
Figures released on Tuesday show Missouri had more than $7.3 billion in general revenues during the fiscal year that ended June 30. That's up more than 3.2 percent compared with the 2011 fiscal year. And it's also better than the 2.7 percent growth rate on which the budget was based.
State budget director Linda Luebbering says the extra money helped cover higher than expected costs for disaster recovery efforts and other estimated budget items, such as legal settlements. Luebbering says it could be early August before she's able to report the final balance for the 2012 budget.