In between each Budget & Economic Forecast , we also prepare a quarterly Revenue & Economic Update in January, April, July and October of each year. The Revenue & Economic Update reports on how actual revenue collections for the current year compare to the previous forecast as well as provide notes on changes in the national and state economic outlook.
October 10, 2014
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Minnesota’s net general fund receipts totaled $4.297 billion during the first quarter of fiscal year 2015, $46 million less than projected in the February 2014 Budget and Economic Forecast. Corporate tax receipts exceeded expectations, more than offsetting negative variances in the individual income and sales taxes. Lower than expected other revenues contributed the largest amount to the shortfall. In September, total receipts exceeded forecast by $33 million, partly offsetting negative variances for the first two months of the quarter.
July 2014 Revenue & Economic Update
>> April 2014 Revenue & Economic Update (pdf)