Revenue Projections

Revenue Projections in the Budget Process

  • In October of an even year, prepare preliminary revenue estimates for all major tax and non-tax categories.
  • By February of an odd year, finalize the OSBM revenue estimates.
  • Following the legislative session in odd years, certify the revenue forecasts authorized by the General Assembly. Create revenue targets to monitor actual collections versus budgeted collections during the fiscal year.
  • In March of an even year, develop preliminary revenue estimates for the upcoming short session of the General Assembly.
  • About May 1 of even years, finalize the revenue estimates for presentation in the governor’s recommended adjustments to the biennial budget.
  • Following the legislative session in even years, certify the authorized revenue estimates and publish in the Post-Legislative Summary. Create revenue targets to monitor actual collections versus budgeted collections during the fiscal year.