JLBC~Monthly Fiscal Highlights

The Joint Legislative Budget Committee (JLBC) has posted its report of monthly fiscal highlights online and they can be viewed by clicking the above title. (I know I keep repeating myself on about clicking on the title for each post, but I have new readers here that are unfamiliar with the wiley ways of the world-wide web.)

Here is a sampling from latest report:

Preliminary June General Fund revenue collections were $1.05 billion, or (5.0)% below June 2006. This amount was $(86.6) million below the monthly forecast based on the recently enacted state budget. For all of FY 2007, preliminary General Fund revenue collections totaled $9.63 billion, or 3.7% above FY 2006. This amount is $(225.8) million below the enacted forecast. Year-end book closing is still occurring, and these preliminary numbers are subject to change.


The June results were below forecast for all the major categories:

• Individual income tax collections were (7.0)% below June 2006 and $(47.3) million below the recently enacted budget forecast.

• Sales tax revenue was (1.9)% below June 2006. Monthly collections fell short of the forecast by $(13.6) million.

• Corporate income tax collections were (11.1)% below last year, and $(22.3) million below the forecast.

The JLBC's Monthly Fiscal Highlights reports also include easy-to-read briefings of the previous JLBC meetings and short summaries of reportings from various goverment agencies. This month's report includes information from 12 different agencies including ADOT, the Department of Education, and AHCCCS...well worth checking out!