Kansas Sees Only Slight Change in Revenue Estimates
Associated Press - November 6, 2013 6:43 pm
Kansas collected $30 million less in taxes than anticipated in August, but officials said larger-than-expected income tax refunds were largely the reason.
Kansas officials have slightly reduced their projections for state revenues during the current fiscal year.
But acting Budget Director Jon Hummel said Wednesday the state will still be able to sustain the spending in the budget for both the current fiscal year and the one that begins in July 2014.
Fiscal forecasters said the state should collect $5.86 billion in revenues during the current fiscal year. That’s $29 million lower than the previous projection of $5.89 billion.
The previous estimate was made in April.
The forecasters also issued the first projections for the next fiscal year. They’re predicting that the state will collect $5.92 billion in revenues. The growth would be $61 million, or 1 percent.