Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BOISE, Idaho (AP) — State officials say Idaho closed the 2014 fiscal year with $7.2 million more than anticipated.
The Idaho Division of Financial Management reports that June's general fund receipts of $294.4 million were $8.4 million above economists' projections. Overall, last month's boost helped raise the final fiscal year totals to $2.81 billion.
That means general fund dollars went up 2.4 percent compared to the previous fiscal year.
Higher-than-expected revenues from individual income taxes contributed to the budget increase. Corporate income and product taxes, however, came in lower than expected.
The new revenue projection for the 2015 fiscal year is 6.4 percent higher than this year with nearly $3 billion of tax revenue expected to flow into Idaho.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
