Thursday, February 3, 2011

Missouri general revenue up 16% in January 2011

Missouri’s general revenue was up again in January. State collections were 16% higher than in January 2010.

As a result, fiscal year 2011 is up 6% as compared to the same time frame last year.

With a little extra money in the state coffers, Governor Jay Nixon released ten million dollars to fund school transportation costs.

Missouri Budget Director Linda Luebbering says that the higher-than-expected revenue figures can be partially attributed to lower refunds.

"As the markets are improving, people are no longer seeing capital losses like they have the last few years and therefore are not requesting refunds related to those capital losses," Luebbering said.

Luebbering also warns that the low refund figures could simply be a matter of timing, and we may see a sharp increase in February.

Jacob McCleland, KRCU


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