HELENA – A new report shows that tax collections came in below expectation for July, the first month of the state’s two year budgeting period.
Fiscal legislative analysts say that revenue collections through July are down 6.5 percent. The Legislature assumed revenue would decline by only 1.9 percent.
The Legislative Fiscal Division notes that collection data for one month is not enough to draw serious conclusions, but is worthy of close monitoring.
Montana’s state government budget has held up far better than many other states dealing with severe budget shortfalls during the recession.
The governor’s office says Montana’s projected cash balance of $400 million for the budget period provide a big cushion against further downturns.
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