State revenues falling behind projections
Fri, 02 May 2014 20:14:58 GMT —
A new report shows Missouri revenues are lagging behind growth projections as the state enters the final two months of its budget year.
State figures released Friday show revenues grew by 0.5 percent through April compared to the same point last year. Those numbers fall short of the 2.8 percent growth projected by Gov. Jay Nixon's administration.
State Budget Director Linda Luebbering says collections are still on pace to meet initial targets set by the administration when crafting the operating budget last year. She added that spending restrictions on state agencies and programs are not planned at this time.
Missouri also repaid $350 million it had borrowed during the fiscal year, which began last July and ends on June 30.