Gov. Mead Says Revenue Picture Strong So Far
Governor Matt Mead says the state’s revenue picture is better than expected, so it doesn’t look like there will be a need to impose mandatory cuts on state agencies.
Mead says he has met with legsislative leadership and is continuing to work on the budget. He says the good news is that the cuts proposed by law, that he vetoed in the last legislative session, and the proposed cuts from management council, won’t be needed, pending the Consensus Revenue Estimating Group (CREG) October report. The governor says whle sales tax revenues are currently running behind the CREG forecast, total revenue is running ahead of forecast due to investment income and oil production in the state.