The Governor’s Office of Management and Budget released a revised state revenue and spending forecast last month for the current fiscal year, and it’s pretty good. Its projections for the next fiscal year, however, were not nearly as strong.
Projected fiscal year 2024 revenues have been revised upward by $1.4 billion, according to GOMB. However, “most of this fiscal year 2024 revenue forecast revision is assumed to be one-time in nature,” the budget office warned.
