UPDATE: Friday, April 13, 2012
Kansas officials have raised their forecast of state revenue through the middle of next year by $252 million.
Economists and state officials had predicted last November that revenue would total $6.2 billion both in the current budget year, which ends June 30, and in the following fiscal year.
On Friday, they raised those projections to slightly less than $6.4 billion this year and more than $6.4 billion in the 2013 fiscal year, which starts July 1.
Steve Anderson, Gov. Sam Brownback's budget director, said the new numbers reflect that the economy continues to grow.
Friday, April 13, 2012
Kansas officials and university economists are preparing to issue new forecasts of state revenue through June 2013.
The team scheduled to meet Friday includes legislative researchers, members of the governor's budget staff, Revenue Department officials and economists from three universities.
After reviewing economic trends, the forecasters will issue revised revenue projections for the current fiscal year, which ends June 30, and for the 2013 fiscal year, which starts July 1.
The most recent forecasts were issued in November and predicted Kansas would collect $6.2 billion in revenues in both fiscal years.
But since last July, revenues are running $108 million ahead of the forecast, a surplus of nearly 3 percent.
Gov. Sam Brownback and legislators will use the new forecast in finishing a state budget for the next fiscal year.