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NC Government Has $115-Million Surplus Through September

North Carolina's revenue collections are still ahead of projections set when legislators drew up the state government budget this year.

The General Assembly's top economist told lawmakers Tuesday the state's coffers have taken in $115 million above the roughly $6 billion expected through Oct. 31, the first four months of the fiscal year.

The presentation by Barry Boardman to a legislative oversight committee said the amount of taxes withheld from worker paychecks is improving and corporate income tax collections are above targeted levels.

The revenue surplus was about $150 million through September.

Boardman said downgraded economic forecasts for North Carolina and the nation present risks for the state to meet required revenue levels in the months ahead.


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