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Current Projections
We are currently projecting a $144.5 million deficit in the General Fund. This amount reflects an estimated net increase in expenditure requirements of $130.7 million, and a net reduction in revenue of $94.7 million, from original budgeted levels.
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Consensus Revenue Estimates
The January 17, 2012 consensus revenue estimates show a reduction in total General Fund estimated revenue of $94.9 million in FY 12 and $139.0 million in FY 13.
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Note: Public Act 09-214 requires the Office of Policy and Management (OPM) and the Office of Fiscal Analysis (OFA) to agree on
and issue consensus revenue estimates each year by October 15, January 15, and April 30. The estimates must cover the current biennium
and the three following years. If the offices cannot agree on consensus estimates, then the Office of the State Comptroller (OSC) must issue consensus
estimates based on the separate estimates produced by OPM and OFA. The Comptroller's estimates must equal one of the separate estimates or fall in between the two.
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