Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

May 20, 2008

State confirms revenue surplus is $45M

Maine experienced a $45.3 million surplus through April, a nice surprise that could help offset cuts to programs like MaineCare.

Revenue going into the state's General Fund exceeded projections by $23.2 million in April, with two months remaining in the fiscal year, according to the latest report from the Legislature's Office of Fiscal and Program Review. That means the rate of growth in the General Fund was 3.1% higher than last year due mostly to unexpected money from corporate, individual and sales taxes, the Bangor Daily News reported.

If the General Fund still has a surplus when the 2008 fiscal year ends June 30, the extra revenue would be sent to state accounts like the Maine Budget Stabilization Fund and MaineCare, the paper reported.

Sign up for Enews

Mainebiz web partners

Most Recent

Most Recent

Comments

Order a PDF