Another indication the state’s economy continues to be strong.
"We'll have a projected ending fund balance of $1.6 billion at the end of June," said state Office of Management and Budget director Pam Sharp. She told the Legislature’s Budget Section – that number is about $190 million more than the projection made in early May – as the 2013 Legislative Session was ending.
"In April, we had exceptionally strong revenues come in," said Sharp. "Most of that was in individual income tax and sales tax. And in May, we also had strong revenues."
In addition – the budget stabilization fund – the state’s “rainy day” fund – will have more than $580 million in it by the end of June.
