Through SAA; From WisPolitics.com …
The Department of Revenue reported today the state took in $126.6 million more in general purpose revenue in the 2011-12 fiscal year than what the agency had projected in May.
It was the second time in four months the state got good news on the revenue front, and half of the additional collections will go toward the budget stabilization fund under state law. The Legislative Fiscal Bureau said the rest of the money will go toward the state’s bottom line at the end of the current biennium in 2013.
The DOR report, which covers the fiscal year that ended June 30, does not account for any changes in state expenses compared to what was budgeted. But LFB said if the state meets projected costs, it will now end the two-year budget with a surplus of $274.1 million.
See the DOR release.
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