Kansas June Revenues Fall Short
Associated Press - June 30, 2015 5:07 pm
Kansas has collected about $22 million less in revenues than anticipated this month.
The state Department of Revenue reported Tuesday that the state took in a little more than $529 million in taxes in June. The state’s official fiscal forecast predicted more than $551 million.
The shortfall for the month was 4.1 percent.
June was the last month of the 2015 fiscal year. For the entire fiscal year, the department reported tax collections of $5.5 billion that were $33 million short of expectations, or about 0.6 percent short.
The lower-than-anticipated tax collections complicate the budget picture. Legislators raised sales and cigarette taxes to avert a deficit in the new fiscal year but didn’t expect to leave much of a cushion of cash reserves at the end of June 2016.