NC state revenues remain $125M ahead at fiscal year’s midpoint

RALEIGH (AP) — Despite a shaky national economy, North Carolina’s coffers continue to do better than expected.

A legislative economist said Thursday that state government revenue exceeded projections during the first half of the fiscal year, bringing in about $125 million more than expected.

That’s about 1.5 percent above the expectations used last year when creating the $20 billion state budget. The numbers cover revenue from July 1 through December 31.

After the first quarter, the surplus was $75 million.

The economists said it’s a sign the North Carolina economy remains resistant compared to other states that are reporting shortfalls. But they caution that the state won’t have a firm
picture of its fiscal position until the April 15 tax returns arrive.

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