Kansas officials to issue new financial forecast
Published on -4/19/2013, 6:52 AM
TOPEKA, Kan. (AP) -- Kansas officials and university economists are preparing to issue new revenue projections for legislators and Gov. Sam Brownback to use in making budget decisions.
Friday's meeting allows the forecasters to revise earlier projections for the current fiscal year and the budget year that begins July 1.
The current forecast was issued in November. It predicts the state will collect $6.2 billion in revenues during the current fiscal year and $5.5 billion for the next fiscal year.
The forecasters predicted that revenues would decline by $705 million during the next fiscal year following massive state income taxes enacted last year. The drop in revenues would be about 11 percent.
The forecasting team includes legislative researchers, members of Brownback's budget stuff, Department of Revenue officials and university economists.