The graphs below show each month's "year to date" collections or cumulative monthly collections relative to the revenue estimate(s) set by the Governor. The graphs provide a tool for tracking whether revenues will be sufficient to cover the budget.
Generally, if the year to date revenues are above the revenue estimate line then the state is in a good position, if the year to date revenues are below the revenue estimate line then this indicates a potential problem. By the end of the year, the chart reflects the state's actual position relative to the revenue estimate, as is shown in the FY09 charts.
Please note that on a month-to-month basis the chart does not give the entire picture since the state brings in more money at different times of the year. The last quarter, when income taxes are collected, has traditionally been the largest quarter for the state. The state will bring in, on average, 28.7% of its revenues in the last three months. The revenues at the end of the year have the potential to make up for shortfalls earlier in the year or alternatively to create unanticipated deficits.
Also important, these graphs reflect unaudited monthly collections as reported by the Department of Revenue in their monthly press release and consist primarily of tax revenue. The entire state funds budget is based on other remittances to the Office of the Treasury and Financial Services, such as the Insurance Premium tax, Lottery Proceeds and Tobacco Settlement Receipts but these categories only make up about 12% of the budget.FY2012