Fri, Jul 21st, 2023 - 1:45pm
September 05, 2018 - 2:30pm | By Chris Larson
A preliminary revenue forecast released Wednesday by the North Dakota Office of Management and Budget (OMB) underscores the need to budget conservatively while also providing reasons to be cautiously optimistic about the next biennium, North Dakota Gov. Doug Burgum said.
The forecast estimates tax and fee revenues, excluding oil taxes and transfers, for the current 2017-2019 budget cycle will total just over $3.2 billion. This amount is nearly $137 million, or 4.4 percent, higher than projected in May 2017 during the most recent legislative session.
Revenues for the 2019-2021 biennium are projected at $3.38 billion, which is up $293 million, or 9.5 percent, from the May 2017 legislative forecast and up $156 million, or 4.8 percent, from the September 2018 revised forecast.
