Report shows growth in state revenue
The Missouri Office of Administration has released the General Revenue report for February and general revenue collections have increased 2.4 percent in the 2012 fiscal year. But so far, that’s below the projected 2.7 percent increase. State Budget Director Linda Luebbering says the state is confident it will meet projections, due to pay raises and an increase in jobs.
“We definitely think it’s going to be the individual income tax that pulls us through this year.”
Luebbering says for now, the figures haven’t prompted a need for Governor Nixon to withhold funds from state agencies.
“Right now, we’re not anticipating needing to do any additional restrictions. The governor announced restrictions early in the year so that people would know about them as early as possible.”
Compared to February 2011, total collections for last month increased 15.1 percent, in part due to the last year’s blizzard that crippled the region. Final reports should be out at the end of the fiscal year, in September.