Kansas officials are preparing a new fiscal forecast to guide Governor Brownback and lawmakers in making budget decisions.
The forecasters include legislative researchers, members of Brownback’s budget stuff, Department of Revenue officials, and university economists.
They’re meeting this afternoon to revise earlier revenue projections for the current fiscal year and for the fiscal year beginning in July.
Since July 2013, the state has collected $141 million dollars more than anticipated.
Kansas officials and economists will gather next week to study revenue projections for the coming year.
They hope to find out if the state economy is growing and if tax receipts will keep government afloat.
Legislative leaders on gave differing views yesterday of what the projections for what the next fiscal year will look like, but agreed that the state faces challenges.
Tax collections through March were $130 million dollars above the forecasters’ November estimate.
Kansas officials have slightly reduced their projections for state revenues during the current fiscal year.
The Kansas Department of Revenue says the state collected nearly $18 million less in taxes than anticipated in October.
A new report says Kansas collected slightly less in taxes than expected in the first quarter of the fiscal year, but officials believe the shortfall may actually be a positive economic sign.
State revenue officials say Kansas missed its expected revenue projections for April by less than $5 million dollars.The monthly report was released Tuesday.Kansas collected $764,800 dollars in taxes, though it expected just over $769 million for April.Revenue Secretary Nick Jordan says Kansas collected $25 million dollars more in individual income taxes this April compared to last April.