The Finance Advisory Committee (FAC) met earlier this month and updated state revenue projections. FAC reported that revenues had improved marginally since the January FAC meeting, and as a result, the shortfall has declined to about $(1.3) B over FYs 2024 and 2025. If the legislature opts to continue $369 M of traditional “ongoing one-time” spending, that shortfall number increases to $(1.8) B. Forecasts still show shortfalls through FY 2027. To read the complete update, please click here.
Forecasting Numbers
