BISMARCK -- North Dakota's treasury will see $38.4 million less in 2009-11 than its budget writers assumed in November, a new forecast released today shows.
Gov. John Hoeven and his budget director outlined the forecast this morning to legislators who are writing the 2009-11 budget.
The changes foreseen are due to the national recession's effects on North Dakota, said Budget Director Pam Sharp.
The forecast still shows a healthy income to the state and merely decreases the surplus that was projected in November.
Compared to the November revenue forecast, the new one shows $21.2 million less in sales and use tax collections, $7.7 million less in motor vehicle excise tax, $10 million less in individual income tax, $4 million less in corporate income tax and $8.7 million less in interest income.
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In the big picture, North Dakota is now expected to take in $2.638 million during 2009-11, compared to $2.676 million that was expected when Hoeven used the November forecast to present his budget to legislators on Dec. 3.
