2011 Senate Finance Committee Majority Revenue Forecast Report
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.