The state revenue figures for May dropped by 31 percent over the same month last year.
Governor Sonny Perdue announced that amounts to $666,340,000 less.
State officials say that sharp drop was expected because April revenue numbers were up b y 34 percent due to a change in collection procedures.
Overall for the fiscal year which will end June 30th, the budget runs a .1 percent deficit.
Georgia does have a 1.5 billion dollar reserve fund, which, officials say will be enough to carry Georgia through tough economic times if needed.
The Georgia Budget and Policy Institute, a budget watchdog group predicts a 5 to 6 million dollar shortfall for next year's state budget.
Monday, June 9, 2008
State Revenue down for May
