For the eighteenth consecutive month since May 2010, General Revenue (GR) collections grew compared to the prior year. October GR was $24.3 million, or 6.3 percent, above collections in October 2010. All major taxes brought in more revenue than one year ago.
This month’s announcement of December General Revenue collections didn’t seem to provide much in the way of good news. Revenues for the month again came in around 30 percent below levels of one year ago (graph) and 30 percent below the certified estimate upon which this year’s initial budget was developed (see our Budget Hilites for an overview of the state’s budget situation).
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