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August State General Fund Revenue Collections Outpace Projections

Posted By Seth Grigg, Wednesday, September 9, 2015

The Idaho Division of Financial Management recently released its August State General Fund Report highlighting that state general fund revenues continue to outpace projections. Through August, state revenues came in 1.4% above projections and 6.3% above FY2015 levels for the same period. These strong numbers indicate growth in economic activity for the state. Most importantly for cities, strong sales tax revenue growth is driving the overall growth in Idaho’s tax revenues. To date, FY2016 state sales tax revenues have outpaced projections by 3.9% and are up 9.1% when compared to FY2015. Continued strong sales tax collections should result in higher than projected state sales tax revenue sharing distributions to cities. More importantly, strong state sales tax collections show steady improvement in Idaho’s economy. The full report can be viewed here.

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