Latest State Revenue Forecast Predicts $3.4 Billion More Than Expected

Dave Donaldson, APRN - JuneauThere’s more money on the way.   Governor Parnell Wednesday morning presented the Department of Revenue’s newest financial forecasts that show– during this year and next - the state will take in 3.4 billion more than was expected at the time of last fall’s forecast.  Parnell says the prices reflect higher oil prices – with the per-barrel estimate now between $12 and $14 higher than projected in the fall.Parnell says he hopes the money doesn’t trigger higher spending in this year’s budget.  And he’s setting limits."I think this year we can have a robust capital budget and still put substantial sums in savings," Parnell said. "The principles of budget discipline that I will ask the legislature to uphold with me include  - one – to limit capital spending to no more than last year’s robust capital budget;  and – two – to save at least two and a half billion dollars for the future.Senate Finance leaders announced Tuesday that they had already saved $1.4 billion using the lower revenue estimates.