Monday, May 11, 2009

Revenue plummets

The state report for April is out, and it's bad.

Comparing April 2009 to April 2008, total general fund revenue dropped 12%, led by income tax revenue from individuals dropping almost 24%.

Comparing the first ten month of this fiscal year to the same months of last fiscal year, the general fund is down 1.6%, and $112 million dollars.

For those who need a silver lining on a cloud this dark, I spot one small thin thread worth noting. In November, the consensus forecast predicted a drop of 2.1%, and we're doing a bit better than grim prediction.

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