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Kansas Liberty: 30 June 2009
Governor to announce plans Thursday to balance budget
Kansas' current fiscal year ends with $126 million deficit
The latest information on the state’s tax revenue shows the state budget is short almost $126 million for fiscal year 2009, which ends today.
Tomorrow, July 1, will mark the start of fiscal year 2010.
According to the latest information from the Kansas Department of Revenue, Kansas’ tax revenue for the month of June is $23 million less than predicted. May revenue in the state had a $103 million gap between what the state had expected to bring in and the money it actually received.
The largest gap was within the individual income tax, as the state had predicted to bring in $280 million, but, in fact, only received $268.7 million.
Another contributor to the gap was within the sales tax; the state predicted it would receive $144 million in sales tax for June but only brought in $137.5 million.
The fiscal year to date report also reflected that the biggest hits to the state during fiscal year 2009 were losses in estimates for individual income tax and sales tax.
Democratic Gov. Mark Parkinson has already said he will discuss his plans to fix the budget deficit for in a press conference Thursday in Topeka.
- Holly Smith
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