NC revenue collections ahead of projections

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Submitted: Wed, 11/30/2011 - 2:52am
Updated: Wed, 11/30/2011 - 2:54am

RALEIGH, N.C. (AP) — North Carolina’s revenue collections are
still ahead of projections set when legislators drew up the state
government budget this year.

The General Assembly’s top economist told lawmakers Tuesday the
state’s coffers have taken in $115 million above the roughly $6
billion expected through Oct. 31, the first four months of the
fiscal year.

The presentation by Barry Boardman to a legislative oversight
committee said the amount of taxes withheld from worker paychecks
is improving and corporate income tax collections are above
targeted levels.

The revenue surplus was about $150 million through September.

Boardman said downgraded economic forecasts for North Carolina
and the nation present risks for the state to meet required revenue
levels in the months ahead.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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