June 15, 2007

May revenues

The Department of Finance monthly report is in for May, and, as expected, it shows revenues falling below projections the department submitted as part of the governor's May revision of his budget. The numbers are a little different from what was reported earlier. For May, revenues were down $397 million. For the fiscal year to date, they are down $538 million. You can read the full report here.

Finance notes that May is not a big month for state revenues. June is a bigger one. Payments due this week will go a long ways toward showing whether the dip was a one-time thing in May or the start of a downward trend that is likely to continue.

Posted by dweintraub on June 15, 2007 2:38 PM