Experts released the quarterly revenue forecast to state lawmakers on Tuesday.
The latest forecast projects a slight uptick in revenue during the last six months of the current budget cycle, averting the need for major budget cuts immediately.
Economists also project the state will earn an additional $55 million in the next two-year budget cycle, which begins July 1. Still, the $16.5 billion in anticipated revenue is about $700 million short of the cost of maintaining government services at their existing levels for two more years.
The forecast projects future earnings in the general fund and lottery funds, the two revenue sources over which state lawmakers have the most control.
Related Stories
- National News
- International News
Automotive
Find valuable information about buying your next car, including price quotes and your latest automotive news.
We Know Why You're Awake
We Know Why You're Awake. We can help.
Closings & Delays
Check here for closures and delays.
Community Calendar
Looking for something to do? Check the events calendar.
Gas Prices
Gas prices are on everybody's mind. So News10 is working with Gas Buddy to help you find the cheapest gas in the area.
Word of the Day
The Wild Rogue Pro Rodeo is sponsoring our "Word of the Day" contest. Click image to see details!
2013 Last Band Standing
Enter this years Last Band Standing! Click to enter online and find out about the contest.
No Text Zone
Help make our roads safe and you could win prizes! Read the official rules here!
KTVL Top Stories
Business News
Gauge of US economy's future health up in April
WASHINGTON (AP) -- A measure of the U.S. economy's future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments.
Consumer Info
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
Entertainment News
Get This
ON THIN ICE?
ANCHORAGE, Alaska (AP) -- He was already on thin ice with the law when he failed to meet the conditions of his probation.
Science/Tech News
IN THE NEWS: LABOR GROUP SAYS CONDITIONS AT APPLE PLANTS IMPROVING
WASHINGTON (AP) -- A labor group Apple joined to assess working conditions at three manufacturing plants in China, where its products are made, says conditions are getting better.

