The commonwealth's Department of Revenue last week reported better-than-expected general fund revenue collections in March that boosted year-to-date revenue collections to $16.2 billion, 0.2% above estimate.
Last month, Pennsylvania's general fund took in $3.3 billion. That figure is $120.4 million, or 3.7%, above projections.
Secretary of Revenue Gregory Fajt attributed most of the unexpected increase to nonrecurring revenues, particularly the sale of stock that the state received due to an insurance company demutualization. Some of these shares are now being sold by the state's treasury.
"Without that nonrecurring revenue, year-to-date collections would be below estimate," Fajt said in a statement.
In February, Pennsylvania revenue collections dipped, falling 5.8% short of expectations.
