IFO Releases Initial Revenue Estimates for FY 2018-2019
Tuesday, May 01, 2018
In its initial revenue forecast offered on May 1, the IFO projected that FY 2017-2018 revenues will meet budget expectations, assuming May and June General Fund revenues come in as anticipated, although a shortfall of about $244 million is expected for the coming year. For FY 2018-2019, the IFO is projecting that the state will have about $32.6 billion to spend, an increase of $640 million compared to the current year, assuming no other changes to programs or funding sources, or $440 million if the estimated FY 2017-2018 $200 million shortfall would be rolled over. Additional details can be found in the full report linked below.
The IFO's official revenue estimate will be released on June 15.