Economic forecasting board raises revenue projections

The Nebraska Economic Forecasting Advisory Board voted to maintain the state’s revenue projections during its first meeting of the year Feb. 28. The board provides an advisory forecast of general fund receipts used by the Legislature to craft the state’s budget.

The board revised its October projections upward by $53 million, raising revenue projections by 5.5 percent to $3.87 billion for fiscal year 2012-13. Projections for FY2013-14 also were raised 3.1 percent to $3.96 billion and projections for FY2014-15 were raised 4.5 percent to $4.1 billion.

The next meeting of the board was scheduled for April 25, 2013.