Nebraska’s general fund receipts for June totaled $309 million, $35 million below original projections. For fiscal 2010 so far, state receipts are $76 million below projections, the Revenue Department said last week.
“As we begin fiscal year 2011, I am concerned that receipts for this fiscal year may fall short of projections,” Gov. Dave Heineman said in a statement.
“I am currently evaluating options to continue slowing spending in this fiscal year,” he said.
Overall, the state could be facing a $660 million, two-year budget shortfall — which would be a record for the state, according to local reports. In response, the Legislature has crafted a new budget process that requires legislative committees to identify 10% cuts for all the state agencies they oversee.
The state’s next budget period begins in July 2011.
