News Columns & Blogs

July revenue shortfall was modest

Given how far-off the state's revenue forecasts have been for most of the past year, it was a relief that July's revenue shortfall was so tiny. According to preliminary figures, July collections were about $424,000, or 0.1 percent,  below expectations. The state's sales-tax collections were about $2.3 million lower than projected. But that shortfall was offset in part by individual income-tax collections, which were about $1 million higher than expected.