Revenue projections falling short for Missouri
Wed, 02 Jul 2014 12:56:30 GMT —
Will Missouri's budget be in the black? Or red?
The answer could come Wednesday as state officials are expected to release the final revenue figures for the 2014 fiscal year that ended on Monday.
Heading into the last couple of weeks of the budget year, Missouri's revenues were lagging slightly behind the previous year. But they were well short of the growth projections upon which the budget was based.
The shortfall was due primarily to a decline in individual income tax collections.
Gov. Jay Nixon already has vetoed and frozen spending for 2015 budget year that started Tuesday. Those budget actions were due largely to the worse-than-expected state tax revenues.