Full Site View
HOTTEST SHEETS!
Quick Links
  Home
  My Bulletin
  Contact The Bulletin
Opinion

Mail: Southern statues symbolize suppession

Mail: Thanks for helping Aiden

More opinion

Ag News

Fall: Good time to spray musk thistle in rosette stage

Robertson and Delsing re-elected chair, vice chair of NWB

More Ag News

NorthPlatte Weather


Email Article | Print Article
News - State/Regional News
 
State revenue forecast: Still lowerTell North Platte what you think
 

Budget pressure increased Monday on the Nebraska Legislature, when the Nebraska Economic Forecasting Advisory Board voted to lower revenue projections.

The board provides an advisory forecast of general fund receipts used by the Legislature to craft the state’s budget, which must be balanced under the state constitution.

Revenue projections for the current fiscal year as well as 2017-18 were lowered significantly.

Total projected revenue receipts for 2016-17 were lowered to $4.31 billion, a decrease of $91 million.

Projected total receipts for 2017-18 were set at $4.51 billion, a decrease of $51.2 million.

The cause is primarily anticipated decreases in individual income tax revenues of $55 million in 2016-17 and $20 million in 2017-18.

In addition, overall projected revenue receipts for 2018-19 were set at $4.73 billion, a $26.3 million decrease.

A preliminary budget had put the state $134.7 million short of achieving the minimum cash reserve. The net impact of the revised forecast adds $152.9 million to that imbalance, which now totals $287.6 million.

The next forecasting board meeting is scheduled for April 26.

“Today’s adjusted forecast underscores the need for continued fiscal restraint from every single state-funded entity,” Gov. Pete Ricketts said. “We must tighten our belts and balance the budget without raising taxes.”

 

The North Platte Bulletin contributed to this report.


Like this story to send to your facebook

The North Platte Bulletin - Published 2/28/2017
Copyright © 2017 northplattebulletin.com - All rights reserved.
Flatrock Publishing, Inc. - 1300 E 4th St., Suite F - North Platte, NE 69101
 
Show me Talk Back during this visit
 
 
|
111001011100