State’s revenue collections exceed forecast

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Published: November 2,2011

Tags: state budget, state government, tax collections, taxes

ACROSS MISSISSIPPI — The latest monthly report from the Department of Revenue shows that Mississippi’s October revenue collections have exceeded the estimate by 5.01 percent, or $20.2 million more than anticipated.

Still, Gov. Haley Barbour says legislators should be conservative in their budget-making process.

“While the October figures are encouraging, they should not be misread as opening a path to more spending,” Barbour said. “We will be spending more than $200 million in federal funds this year that won’t be available in the next fiscal year. These figures, plus the nearly $300 million we have in reserve, will allow us to keep spending at a sustainable level next year but won’t allow significant increases. Cuts and cost-saving proposals will continue to be needed at several agencies until economic conditions improve.”

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