In conjunction with IHS Global Insight, the Senate Finance Committee reviewed and analyzed the economic and revenue projections contained within the Executive Budget for SFY 2011-12. Based upon IHS Global Insight’s February economic forecast, the Senate Finance Committee projects $438 million in General Fund revenues (inclusive of miscellaneous receipts and transfers) above the Executive Budget forecast for SFY 2011-12. This amount is reduced by the estimate for the remainder of SFY 2010-11, which is $23 million less than the Executive estimate. Therefore, the two year General Fund receipts forecast is $415 million above the Executive forecast.
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