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By Lyle Hillyard
Senator, District 25

During the Executive Appropriations Meeting scheduled for June 16th, we plan to review the revenues for the year. It will only leave another 2 weeks before the State’s fiscal year ends. We will know where the revenue collections ended for May, which is 11 of the 12 months we have budgeted for. We are planning on a shortfall, just in case, but should have enough money set over for FY 2010 to cover it (up to $123.0 M, if needed). That has implications for the FY 2010 budget because any money taken to cover this year means that we will be down at least double for FY 2010.

We have decided not to worry about doing an exact forecast for FY 2010 if the revenues are down because we will need the final revenue collections for the year (not finally collected until about the end of August). The TC-23 will be of some help but there is much more that goes into this work than that. Just in case, please spend all you can for Father’s Day because fathers are great! (...and the State revenue needs all the sales tax collections it can get).

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