REVENUE MEETING: Projections For 2013
Friday, politicians will get a final update on the state’s finances for 2013.
The Revenue Estimating Conference will give its latest forecast to lawmakers.
At the meeting in December, the state’s revenue was predicted to grow by three-percent over the next fiscal year, a rise of $222 million.
At the time, Chair of the Revenue Estimating Conference, David Roederer said the state had been doing well, “We outperformed our estimates.” On Friday, we will find out if that statement is still accurate.
The state received over $6.1 billion in tax revenue for fiscal year 2012.
By law, the governor and legislature must base Iowa’s budget on the REC’s estimates.