Revenue collections for the month of June are in, thus concluding the 2019 Fiscal Year.
Total revenue collections for the month of June FY 2019 are $58,319,312 or 8.08% above the sine die revenue estimate. Fiscal YTD revenue collections through June are $310,878,539 or 5.50% above the sine die estimate. Fiscal YTD total revenue collections through June 2019 are $277,379,581 or 4.88% above the prior year’s collections. The FY 2019 Sine Die Revenue Estimate is $5,656,100,000.
On March 25, 2019, the Joint Legislative Budget Committee revised the revenue estimate upward by $125.3M. FY 2019 year- to-date actual collections are $185,578,539 above the year-to-date FY 2019 revised revenue estimate as of June 2019. The FY 2019 Revised Revenue Estimate is $5,781,400,000.
The graph above compares the actual revenue collections to the sine die revenue estimate for each of the main tax revenue sources. The figures reflect the amount the actual collections for Sales, Individual, Corporate, Use and Gaming taxes were above or below the estimate for the month and fiscal year-to-date. The graph also compares fiscal year-to- date actual collections to prior year actual collections, as of June 30, 2019.
June FY 2019 General Fund collections were $52,721,934 or 7.24% above June FY 2018 actual collections. Sales tax collections for the month of June were above the prior year by $1.3M. Individual income tax collections for the month of June were above the prior year by $18.1M. Corporate income tax collections for the month of June were above the prior year by $5.7M.
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