General fund revenue expected to be $46M less than predicted
North Dakota’s latest budget forecast projects general fund revenue, including fund transfers, for 2015-17 will total $4.78 billion on the biennium’s closing date, Friday, June 30. That’s $46 million less than projections made in January, which were considered conservative assumptions.
Currently, the 2017-19 biennium is projected to have a general fund revenue shortfall of $103 million, with a reported $94 million tied to deceases in sales tax revenue. North Dakota Gov. Doug Burgum, with the Office of Management and Budget, presented those projections on Thursday to the state’s House and Senate appropriations committees.
“The decisions are going to become even more difficult,” Burgum said.
With the legislative session and biennium nearing their closing dates, it’s becoming apparent everything is on the table for reevaluation, said state Sen. Jim Dotzenrod, D-District 26.
Read more: http://www.wahpetondailynews.com/news/general-fund-revenue-expected-to-be-m-less-than-predicted/article_f775374c-07fb-11e7-b7aa-535d2fafb056.html