Economists in the Office of State Budget and Management and the General Assembly’s Fiscal Research Division released an updated consensus revenue forecast today anticipating an additional $3.25 billion in state revenues for FY 2022-23, putting total state General Fund revenue collections at $33.76 billion.
Economists in the Office of State Budget and Management and the General Assembly’s Fiscal Research Division released an updated consensus revenue forecast today anticipating an additional $6.5 billion in state revenues through the next biennium.
With the end of the state’s fiscal year just three weeks away, the N.C. House and Senate have reached a deal for the next budget. After weeks of closed negotiations, N.C. Senate and House leaders have agreed to a top-line spending number of $25.7 billion in the first year and $26.7 in the second year. That’s a spending increase of 3.45% in the first year of the biennium and 3.65% in year two.
