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FY 2022-2023 Biennium Budget Close Report

10/16/2023 9:28:00 AM

The FY 2022-23 biennium ended with a balance $820 million higher than estimated at the end of the 2023 legislative session. Final revenue for the biennium, including taxes, other revenue, and accounting adjustments from prior fiscal years, closed $739 million (1.2 percent) higher than estimates. General fund spending for the closed biennium, after accounting adjustments, was $81 million (0.2 percent) lower than prior estimates. The difference between the estimated and actual ending balance, $820 million, will be added to the projected surplus for the FY 2024-25 biennium, which was estimated to be $1.583 billion when enacted in May.

/mmb/budget/current-budget/current/index.jspFY 2022-23 Biennial Close Report

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