TOPEKA, Kansas (AP) – Kansas officials have made relatively little adjustment in projections for the state’s overall revenues through June 2014.
The officials and economists issued a new fiscal forecast Friday, revising one issued in November.
The new forecast predicts the state will collect $6.2 billion in revenues during the current fiscal year and $5.5 billion for the fiscal year beginning in July. The figures are close to previous projections.
The forecasters predicted revenues would decline by $745 million during the next fiscal year following income tax cuts enacted last year. The drop would be 12 percent.
Kansas Legislative Research Department Director Raney (RAY’-nee) Gilliland said forecasters believe the economy will remain stagnant in the near future.
The forecasting team includes legislative researchers, the governor’s budget staff, Department of Revenue officials and university economists.