Missouri estimates 3.9 percent revenue increase
Jefferson City
State leaders estimate general revenue will increase 3.9 percent to $7.6 billion for fiscal 2013, starting in July.
Higher revenue arriving in Jefferson City, however, will not make up for the loss of one-time federal funds, Missouri Budget Director Linda Luebbering told Missouri Journal.
Revenue growth will total around $285 million, but Missouri will be receiving around $650 million less federal money.
Between now and when Missouri Gov. Jay Nixon presents his budget recommendations during the annual State of the State address expected in mid-January, the budget office will be looking for ways to make up the funding difference.
The consensus revenue estimate is prepared around this time each year by leaders in the Missouri General Assembly and the governor’s office, consulting with outside experts.
Luebbering confirmed the state is on track to reduce total spending by 0.14 percent this fiscal year, which will be only the third time in 30 years total expenditures have dropped.
Total expenditures increased 498 percent from $3.9 billion in 1981 to $23.3 billion last fiscal year.
By Brian R. Hook, brhook@missourijournal.com, (314) 482-7944
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