Home » NEWS » Barbour still urges caution on budget

Barbour still urges caution on budget

JACKSON — Mississippi revenue collections exceeded estimates in November — the fourth time that has occurred since the fiscal year began July 1.

Preliminary numbers released Tuesday show collections for November were $609,339, or 0.19 percent, above the estimate. That amount should improve as additional numbers are obtained in the coming days for November.

Figures reported Tuesday represent taxes collected by the state Department of Revenue, such as the sales tax, income tax and casino gambling tax.

Collections for the first five months of the fiscal year probably will be between 1.5 percent and 2 percent above the estimate. The estimate is important because it is the amount of money the Legislature appropriated during the 2010 session to fund the general fund, which includes education, Medicaid, economic development and various other aspects of state government.

In recent years, as state tax collections have come in below the estimate during the economic downturn, Gov. Haley Barbour has made cuts to most state agencies.

Even without the “other than” category, state tax collections for current fiscal year are $37.4 million above the amount collected during the same time period one year ago.

Despite the improved financial outlook, Barbour said the state still faces a budget crunch.

“While I’m pleased to report that we surpassed the estimate, the need to prepare our state for another difficult fiscal year still exists,” he said in a prepared statement.

“The economy still is not strong, and the loss of hundreds of millions of dollars in federal stimulus funds dictates that we prepare a fiscal year 2012 budget recognizing that Mississippians expect their government to prioritize state spending rather than reach deeper into their pockets.”

Before the modest turnaround for the current fiscal year, the state revenue came in below estimate for 21 of the previous 22 months.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *