State tax receipts for Oct. below estimates
State general fund receipts for October fell slightly below projections for the first time in seven months, officials reported Monday.
The state collected $457.5 million in October, which was $4.2 million, or 0.9 percent, less than previously estimated.
The state would have exceeded the estimate but for the payout of a large one-time refund from prior years, officials said.
“We need to continue to focus on fiscally responsible spending so the state is in a position to accommodate unanticipated revenue events,” said Kansas Department of Revenue Secretary Nick Jordan. The agency did not identify the recipient of the refund.
Even with the slight drop below projections, Kansas is $62 million ahead of estimates for the fiscal year that started July 1. In addition, October tax receipts were $123.2 million more than what was collected in October 2010. Year-to-date, state receipts are running 7 percent more than last year.
By Scott Rothschild