Growth in net general revenue collections for February and the year as a whole could allow policymakers to boost funding for education, healthcare, and other services. Revenue from February was higher than this time last year by about $6.2 million or 2.9 percent, and exceeded DFA growth estimates by $14.3 million or 7.0 percent. The unexpected increase last month was due partly to higher-than-anticipated sales tax collections. Sales tax revenue was $8.4 million or 5% higher than expected. The state also saved money last month because of lower than anticipated income tax refunds.

Year-to-date total revenue is also larger than last year (by $127.2 million or 4 percent).  This rate of growth was higher than expected. New available general revenue for the year so far is above forecast by $94.6 million or 2.9 percent. Net general revenue represents the bottom line of funds available for distribution to state agencies and comes from taking certain off-the-top deductions from gross general revenue (like a portion of education adequacy funding and tax refunds).