Budget Snapshots, We've Got Budget Snapshots

LINK

From the Introduction 

State fiscal conditions continue to improve at a slow and steady pace. 

A spring 2012 survey of state legislative fiscal officers found 

• revenue performance remains positive and 
• expenditures in most states are stable. 

And for the first time since before the Great Recession, a number of states are projecting to end the fiscal year with small unobligated balances. 

In another sign of improving fiscal conditions, few states have faced mid-year budget shortfalls in fiscal year (FY) 2012. This is good news for state lawmakers who have closed more than $500 billion in budget gaps over the previous four fiscal years. In addition, fewer budget gaps are projected for FY 2013 compared with recent years. 

Despite this encouraging news, a degree of uncertainty still lingers over state budgets. Concerns about 

• unemployment levels, 
• potential federal deficit reduction actions, 
• spending pressures and 
• global economic events, 

are contributing to a cautious state budget outlook. 

This report is based on data collected from legislative fiscal officers in March and April 2012. It includes information on: FY 2012 tax performance; Projected return to peak revenues Spending overruns in FY 2012; New FY 2012 budget gaps and projected FY 2013 budget gaps; Projected FY 2012 unobligated balances; and Summary of the state fiscal situation.

Wisconsin mentions in the condensed free version of the report.

Personal income taxes.  16 states saw collections come in on target. Colorado, Delaware, Iowa, Kansas, Mississippi and South Carolina had raised their estimates while Maine, Oregon and Wisconsin had reduced theirs.

General sales taxes   16 states reported that collections were coming in on target. Colorado, Iowa, Kansas and Minnesota were meeting targets that had been revised upward. Maine, New Jersey and Wisconsin were meeting reduced estimates. 

Corporate income taxes.  Fifteen states reported collections coming in on target. Of these, Colorado, Kansas, Mississippi and New Jersey had raised the forecast, while Delaware, Oregon and Wisconsin had lowered the forecast. 

The complete report costs $49 for non-members.

In our case, estimates may be lowered, as reported by NCSL but according to the Wisconsin Budget Project and the WI DOR table below, Wisconsin is on track to meet or exceed the revenue forecast for this fiscal year.

From the Wisconsin Department of Revenue, Wisconsin Economic Outlook, June 2012.