New State Fiscal Year Begins As Previous Year Ends with Surplus

July 8th, 2013

 Last week a new fiscal year began.   FY 2013, which ended last Sunday, has ended with a $295 million surplus over estimates, according to data released by the Governor.    

Revenue estimates for FY 2014 suggest collections will come in about level with actual collections from FY 2013. However, when talking about state budgets, level funding is generally not enough to make up for rises in costs and greater needs for services.   FY 2014 appropriations were made during the last legislative session.  You can see more information about FY 2014 appropriations here.  

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