Register | Forgot Your Password? | Close

PHOENIX -- Legislative budget analysts said the state apparently ended its last fiscal year with approximately $200 million more cash on hand than was expected when the current state budget was drafted last spring.

The budget staff said its preliminary estimate for the 2012-2013 fiscal year's surplus was just under $900 million, not counting the $450 million in the state's rainy day fund.

Gov. Jan Brewer and the Legislature planned to have a surplus, saying the state needs to build up its reserves because of an expected whammy from health care costs.

The legislative budget analysts partly attribute the increase to a revenue spike.

They said the revenue spike was largely because of increased payment of capital gains taxes.

Associated Press,

share this story:
Attention Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus

    KTAR spends the week taking a look at the issues a modern Arizona family faces.