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December 11, 2009

State revenue up, Dirigo funds down

By The Mainebiz News Staff

News on the state's budget status was mixed Thursday, as income for November came in higher than predicted but Dirigo Health predicts a shortfall.

Mike Allen of the Maine Revenue Services told the Appropriations and Financial Affairs Committee that a windfall from the tax amnesty program pushed November revenues $2.3 million higher than anticipated, but warned that year-to-date General Fund revenues are still $66.7 million short, according to the Bangor Daily News. "It is certainly nice to see a positive month," he told the committee. "But I wouldn't read too much into that because I think we are still in for a long, tough road ahead, certainly for the rest of this fiscal year," which ends June 30.

Lawmakers also heard from Karynlee Harrington, executive director of the state's Dirigo Health Agency, that the agency may not be able to pay back a $25 million loan from the state due June 30 because fewer people than expected dropped out of the health insurance program, according to the Kennebec Journal. Harrington said the agency would have a better sense in January when the agency will be able to repay the loan.

Go to the article from the Bangor Daily News >>
Go to the article from the Kennebec Journal >>

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