State revenue collections beat forecast, but Barbour urges caution

JACKSON — It appears that the state’s January revenue collections will exceed expectations, but Gov. Haley Barbour is still urging lawmakers to be cautious when spending.

Barbour said, “Mississippi’s preliminary January revenue collections were slightly higher than estimated, which shows the state’s economy continues to recover slowly. The state collected $326 million, which was 1.42 percent above the Sine Die estimate for the month.

“Revenues barely have met expectations over the past four months. We should remain cautious in our spending, especially in light of the slow economic recovery expected nationally. As negotiations begin on crafting a budget for the next fiscal year, legislators need to keep the overall economic picture in mind. Slow revenue growth coupled with the loss of hundreds of millions of stimulus dollars means state government must continue to tighten its belt and leaders must make difficult decisions to ensure state services remain effective within a balanced budget.”