The office of State Budget Director announced on Friday that General Fund receipts in December 2024 increased 4.5 percent from a year ago and are up 1.7 percent year to date for the fiscal year that began July 1, 2024, while Road Fund receipts last month fell 5.4 percent compared to December 2023, but are up 0.2 percent year to date.
For the first six months of the fiscal year, there have been three months with increases over the prior year and three months with decreases over the prior year. The major business taxes contributed the most to the monthly gain.
The official revenue forecast calls for no General Fund revenue growth in FY25. Based on year-to-date collections, revenues can fall 1.6 percent over the final six months of the fiscal year and still meet the estimate…