March fiscal forecast paints a more optimistic picture

By  | 

TOPEKA (WIBW)-- A new fiscal forecast paints a more optimistic picture for the state's budget.

A group of officials and university economists Thursday increased projected tax collections by $156 million through June 2019.

It's the first positive one in three years and replaces the pessimistic adjustments from November, which assumed economic slumps in agriculture and energy production would continue through next year.

The previous forecast left budget shortfalls totaling about $1 billion through June 2019, but with tax collections slightly better than expected the new forecast, closes the gap to $889 million.