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RALEIGH, N.C. (AP) – The Latest on North Carolina state government’s fiscal picture (all times local):

3:50 p.m.

New numbers from the General Assembly and Gov. Roy Cooper’s administration predict tax collections will be $552 million higher than what is needed to carry out the current state budget when the fiscal year ends June 30.

House and Senate Republican leaders trumpeted the surplus figure Thursday, and Cooper also said in a release growing revenue projections were welcome news.

The amount is 2.5 percent above this year’s $22 billion budget. The updated revenue projections serve as the basis for the governor and lawmakers as they begin writing up their budget proposals for the next two years through mid-2019. The surplus means more funds also can be anticipated in those two years.

Cooper has said he anticipates rolling out his budget proposal for legislators in the coming weeks.

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2:25 p.m.

North Carolina’s fund to cover big budget shortfalls and other emergencies is pretty flush right now. Now, many lawmakers want a streamlined process of giving to and taking from its coffers to ensure it stays full.

Legislation recommended by a General Assembly study group got approval Thursday from the House’s budget-writing committee.

The measure would require the state budget put money equal to 15 percent of predicted revenue growth into the saving reserve annually. The bill also requires two-thirds votes if lawmakers want to spend a lot of reserve funds or want to use reserves for something other than fiscal emergencies or court orders.

The saving reserve is currently just under $1.5 billion after $100 million went to Hurricane Matthew relief.

The bill’s next stop is the full House.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comment on this Story

  • Oceanwalk

    Having worked in Lumberton as a disaster relief volunteer and seeing the concern and time spent by Governor McCrory, I was so glad he was governor instead of the previous governor who had the state deep in the red. Thanks to Governor McCrory, we actually had a “rainy day fund” to help NC recover. As for our schools, Easley “promised” if we had a lottery, our schools would become palaces and students could stop selling candy bars and having other fund raisers. Somehow, the 35% of lottery funds became 26% and our children are still selling candy bars to help support the schools.

  • VoiceOfReason

    Since the last Governor left us with schools that are like palaces, completely solved infrastructure issues like new or fully repaired roads and bridges, and an economy growing so quickly the NFL would ban us for steroid use, my only hope is that we can expect a big fat tax break for the rich. And that’s without mentioning progressive policies like HB2 and Voter ID, ecological blessings from our corporate benefactors like Duke Energy, and the ever growing wealth of the middle class. I will certainly miss the last four years that made me proud to say I am from North Carolina.

    • guest45

      gonna explain this to you liberals out there, McCrory came into a big mess, over 100years of spending more than the state had, and a lot of corruption, he dug in and worked hard to get our bills paid and our finances in order, he even managed to squeek out a school teacher raise, but he was paying for as he went, had he have had a few more terms we would have saw some really big changes in our infrastructure and school house’s, but unlike the left we were going to have the money to do these things, that takes time, just because you are a liberal or an ex government employ those checks that the state writes must be backed by actual moneys, this stuff does not grow out of thin air, but now we enter the downward spiral again and obviously the democrats do not mind running the state on credit and stealing money out of the TAXPAYERS pockets, so carry on you lib’s.

      • VoiceOfReason

        Guest45 – your ideology has become so corrupt that you reflexively classify conflicting viewpoints as “liberal”. I never identified myself as “liberal”; you chose that label. We no doubt have different viewpoints but – unlike you – I am not an ideologue but a pragmatist. While the article shows that we will have a budget surplus (something we call all agree on is a good thing), my rather sarcastic post was meant to highlight that the surplus does not reflect that the citizens of our state have not necessarily been better served by these “extra” monies. Blame for that is shared by whichever party has been in power in both the legislature and governor’s office for years and years.

        BTW – the “random” dots at the end of a collection of words is called a period. Try it sometime. It will make it appear that you are not going on some breathless rant.

      • guest45

        you don’t necessarily identify yourself as a liberal, but as the old saying goes, if the shoe fits, wear it…………

  • guest45

    sounds like this state and the taxpayers need to rehire Govenor McCrory, he put us on a positive cash flow and it will not take this administration very long to spend every dime and be in the red again.

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