Montana Revenue Comes in Above Projections for 2019
MISSOULA, Mont. (AP) — A new report says Montana collected more revenue than expected over the 2019 financial year that ended June 30.
The state Legislative Fiscal Division’s report paints a brighter financial picture for the state that was facing a budget shortfall just two years ago.
Montana Public Radio reports Montana’s general fund revenue came in $107 million, or 4.4%, over the projections approved by legislators this spring.
The report also says general fund expenditures were $46 million below expectations. The state Department of Public Health and Human Services underspent its budget by $19 million.
The revenue boost was largely driven by an increase in individual income tax collections.
Financial analysts say that’s likely because of changes in federal tax laws in 2018, and a slight dip in tax collections is projected for this financial year.