The Nebraska Economic Forecasting Advisory Board raised current fiscal year projections by $46.3 million during a meeting at the Capitol Oct. 24. The board was created to provide advisory forecasts of revenue receipts used by the Legislature in crafting the state\u2019s budget.<\/p>\n
The majority of the increase resulted from a projected $45.6 million increase in individual income tax receipts. The funds will be applied to the state\u2019s cash reserve fund.<\/p>\n
The \u201cfunds available\u201d in the general fund balance projected for June 30, 2015, also were increased from $7.4 million to $24.6 million.<\/p>\n
Finally, the board also set revenue projections for fiscal years 2013-14 and 2014-15. Total projected revenue receipts were set at $4.1 billion for FY2013-14 and $4.2 billion for FY2014-15.<\/p>\n
The next board meeting is scheduled for Feb. 28, 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
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