North Dakota’s revenue collections continue to exceed the budget forecast.
The state’s Office of Management and Budget reported that to Legislative interim committees.
"If we look at where we area, November preliminary numbers were up 10 percent, or $130 million from forecast" said state OMB director Susan Sisk. "That increase is primarily driven by sales tax, corporate tax and interest income."
Sisk said it's good news for the state's general fund.
"It's really good news, four months into the biennium," Sisk said.
Sisk said the state is seeing increases in all sectors – and it appears the state’s economy is firing on all cylinders.
As for a general fund balance at the end of the biennium?
"Right now, what we're projecting is a general fund ending balance of $490 million," Sisk said. "We had forecast $106 million."
Sisk said part of that is due to a higher agency turn back than expected at the end of the previous biennium.
"We received some federal funds that we were able to spend, rather than using general funds," Sisk said.
