Kansas to Disclose Whether July Tax Collections Fell Short
Associated Press - August 1, 2016 11:16 am
A major financial rating agency says a structural imbalance in Kansas' budget is "likely to persist" even after the state increased income taxes.
Gov. Sam Brownback and Kansas legislators are waiting to learn whether state tax collections in July fell short of expectations.
The monthly report due Monday afternoon from the state Department of Revenue could complicate the state’s financial picture and lead to a fresh round of budget adjustments.
Tax collections have fallen short of expectations for 10 of the past 12 months.
In June, they were $34.5 million below the official state projections made in a fiscal forecast issued by officials and university economists in April. The shortfall was 5.7 percent.
June’s shortfall prompted Brownback’s administration to delay $260 million in state aid payments to public schools. It also diverted money for highway