State Revenues Exceed Estimates

Gov. Justice has announced that the state’s General Revenue Fund collections continue to exceed estimates. October General Revenue Fund collections of $359.2 million were nearly $2.4 million above estimate. That is 1.5% above prior year receipts. The 13.5% growth rate after the first four months of FY 2019 is the highest growth rate in State General Revenue Fund collections through the first four months in more than 25 years and the cumulative rate of growth in sales tax collections is the highest rate of growth in sales tax revenue in more than 25 years. October 2018 also marked the 7th consecutive month of revenue surplus over estimate. Year-to-date collections of nearly $1.478 billion were $122.3 million above estimate and 13.5% ahead of prior year receipts.