State revenues in January dipped below recent forecasts, but overall revenues this fiscal year are still strong.
Revenue collected last month was $48 million less than forecasted. But through seven months of the fiscal year, revenues are still $67 million ahead of expectations. Growth over last year’s numbers is strong as well- the fiscal year-to-date revenues are more than eight percent greater than 2011.
In a statement, budget director Adam Horst said a slowdown is likely ahead. He said February is typically the month with the lowest level of collections.