Wayne Niederhauser

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Budget Surplus

We had a bit of good news about the budget--there is a small surplus. There was an unexpected surge in income tax and corporate income tax revenue that produced an additional $85 million. In reality that is only about 1.8% of our ongoing revenue, but every little bit helps. By a statutory mandate, $45 million will go into the Rainy Day Fund and the rest will be used for things like backfilling the budget error made by the Department of Education, paying for the many fires we had this summer and re-seeding those burned areas. What is remarkable to me is that the numbers we were given this year as we planned our $13 billion budget were only off by 1.8%. That is amazing. Our staff is conservative with the estimates we are given, so we always know what we have to spend. They definitely provide a valuable service to our state.

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