Missouri revenue collections up 5.2%

Missouri revenue collections up 5.2%

JEFFERSON CITY, Mo. -- The state budget director on Monday announced Missouri revenue collections have increased significantly so far this fiscal year.

Director Dan Haug said net year-to-date general revenue collections were up 5.2% in December compared to the same time frame last fiscal year. Missouri's fiscal year runs from July through the end of June.

Total revenue collections also increased about 7.5% in the month of December compared to December 2018, although refunds also were up last month.

The data released Monday give a snapshot of state finances about halfway through the current fiscal year.

Strong revenue growth means Missouri is on pace to bring in enough money to fund the current state budget. Growth so far this year is almost twice as much as the 2.7% lawmakers planned for when they made the budget.