Missouri revenues up more than 6 percent

JEFFERSON CITY, Mo. -- Missouri's budget director said revenues increased 7 percent compared to the same time last fiscal year.

Budget Director Dan Haug on Tuesday announced the state collected about $792 million in the month of August, compared to roughly $740 million in August 2016.

Missouri's fiscal year began in July. Based on two months of data, net revenue collections so far this fiscal year are up close to 6.5 percent.

Haug also on Tuesday said the state borrowed $50 million from the budget reserve fund for cash flow purposes. The state must repay the money by May 2018.