FY 2020 First Month GR Collections Send Mixed Messages
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The Office of Management and Enterprise Services approved premium rates for health, dental, life, disability and vision insurance products to be offered to state, education and many local government employees, retirees and dependents for 2020.
General Revenue Fund collections in June were $679.4 million and came in at $10.0 million, or 1.5%, below the monthly estimate. This amount is $52.5 million, or 8.4%, above collections in June of 2018. Total collections for the 2019 fiscal year were $6.86 billion and came in at $354.6 million, or 5.5%, above the 2019 fiscal year estimate and $1.0 billion, or 17.2%, above prior year collections.
General Revenue Fund collections in May were $573.9 million and came in at $5.0 million, or 0.9%, above the monthly estimate. This amount is $76.2 million, or 15.3%, above collections in May of 2018. Total collections over 11 months of the fiscal year are $364.6 million, or 6.3%, above the estimate to date and $953.0 million, or 18.2%, above prior year collections.