The Budget Director released the April Tax Receipts report today. To download a copy of the report access it HERE.
The long and short of it is that the General Fund was down slightly, 0.7% less than 1 percent, in April 2012 compared to April 2011. As we mentioned in our recap on March receipts April, May, and June of 2011 were big revenue months, so in order for their to be growth in 2012 over those three months the growth would have to be robust. As you can see in the report, Secretary Lassiter was pleased with April and anticipates that actual FY 2012 receipts will exceed the number that was anticipated in the recently passed budget. Meaning their is likely to be a small surplus.
The Road Fund continued its growth with an increase of 4.2% in April 2012 over April 2011. Just like General Fund revenues, the Road Fund is also expected to end the fiscal year with a surplus as revenues could decline 1.3% over the next two months and still meet the official revenue forecast.