Kansas state taxes generated $376.8 million in August, up almost $7 million from the $369.9 million projected in the state’s official revenue forecast.
Total revenue for the first two months of fiscal 2010, which begins July 1, are down by $29.3 million due to the pushing back of $31 million in income tax refunds from June to July to help balance the fiscal 2009 budget.
July’s revenues were $37.6 million less than predicted in the latest forecast.
The House Appropriations Committee met last week to consider possible spending cuts after the Kansas Legislative Research Department predicted the state could face a budget shortfall of $530 million in fiscal 2011. The first official forecast for fiscal 2011 revenues will be released in November.
Gov. Mark Parkinson said the improved revenue picture were an “encouraging sign” that the Kansas economy is recovering.
“As I’ve said many times before, there will be ups and downs as we work our way out of this recession,” Parkinson said. “This revenue report reminds us that our path to recovery will be a series of calm and reasonable steps, not a rush to decisions.”
