Investor Presentaiton
General Revenue...
Post Session August 2023
Fiscal Year
Forecast
Forecast
Difference
Percentage Incremental
Change
Growth
Growth
2005-06
27074.8
8.4%
2006-07
26404.1
-2.5%
2007-08
24112.1
-8.7%
2008-09
21025.6
-12.8%
2009-10
21523.1
2.4%
2010-11
22551.6
4.8%
2011-12
23618.8
4.7%
2012-13
25314.6
7.2%
2013-14
26198.0
3.5%
2014-15
27681.1
5.7%
2015-16
28325.4
2.3%
2016-17
29594.5
4.5%
2017-18
31218.2
5.5%
2018-19
33413.8
7.0%
2019-20
31366.2
-6.1%
2020-21
36280.9
15.7%
2021-22
44035.7
21.4%
2022-23
46,243.8
47,327.8
1,083.9
3,292.1
7.5%
2023-24
44,097.3
45,664.4
1,567.1
(1,663.4)
-3.5%
2024-25
46,221.6
47,424.2
1,202.6
1,759.8
3.9%
2025-26
47,632.9
48,586.8
953.9
1,162.6
2.5%
2026-27
49,015.2
49,934.8
919.6
1,348.0
2.8%
2027-28
50,532.8
2028-29
51,451.3
52,924.5
918.5
1,516.5
3.0%
1,473.2
2.9%
The new state and national economic forecasts adopted in July 2023 were little changed from those adopted
in February 2023, although that forecast had assumed a mild recession in the first and second quarters of
2023 that failed to materialize. Economic disruption is still evident, with varied impacts on household
savings, the elevated use of credit, the continued normalization of spending on services and away from
taxable goods, and strong inflationary pressures on households. Explained in part by the recession's failure
to materialize, revenue collections have exceeded expectations since the last conference. General Revenue
collections across all sources were $1,083.9 million or 2.3 percent over the estimate for the year.
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