Missouri could have extra $500 million

Friday, January 12, 2007

JEFFERSON CITY, Mo. -- Missouri could have up to $500 million or so in additional revenue available as lawmakers start work to craft a budget for the coming fiscal year.

Missouri is expected to see state revenue growth of about 4 percent in the current fiscal year, and 3.8 percent next year, Gov. Matt Blunt and lawmakers said Thursday.

The state originally expected growth this year of 4.5 percent. But that was following an assumed growth of 4.9 percent in the budget year that ended June 30, which actually came in at more than 9 percent.

So a lower percentage increase this year should still allow the state to meet its budget, and combined with the roughly $300 million carried over from last year, after all the bills are paid, the state could have a balance of $400 million to $500 million to start the new year.

Budget leaders expect state general revenue to come in at about $7.63 billion this year, and $7.92 billion for the year starting July 1.

Lawmakers are expected to start serious budget work after Blunt lays out his spending plan Jan. 24.

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