Estimates for the State General Fund (SGF) are developed using a consensus process that involves the Legislative Research Department, Division of the Budget, Department of Revenue, and three consulting economists from state universities. This estimate is the base from which the Governor and the Legislature build the annual budget. The Consensus Group met on November 5, 2007, and increased the FY 2008 estimate and developed the first estimate for FY 2009. For FY 2008, the estimate was increased by $160.5 million. ... The initial estimate for FY 2009 is $6.170 billion.

Estimates for revenues to the State General Fund (SGF) are developed using a consensus process that involves the Legislative Research Department, Division of the Budget, Department of Revenue, and three consulting economists from state universities. This estimate is the base from which the Governor and the Legislature build the annual budget. The Consensus Group met on April 16, 2008, and decreased the overall estimate for both fiscal years by a combined $129.9 million relative to the previous estimate made in November. The revised FY 2008 estimate is $5.737 billion, and the revised FY 2009 estimate is $6.021 billion. The revised estimates incorporate the fiscal impact of all 2008 legislation previously signed into law by April 16 or expected to be signed into law shortly thereafter and include significant adjustments relative to the impact of the new federal economic stimulus legislation; a major downward revision in projected SGF interest earnings; and increased transfers.

Estimates for the State General Fund (SGF) are developed using a consensus process that involves the Legislative Research Department, Division of the Budget, Department of Revenue, and three consulting economists from state universities. This estimate is the base from which the Governor and the Legislature build the annual budget. The Consensus Group met on November 4, 2008, and decreased the estimate for FY 2009 and developed the first estimate for FY 2010. For FY 2009, the estimate was decreased by $211.4 million, or 3.5 percent, below the previous estimate (made in April and subsequently adjusted for legislation enacted during the veto session). The revised estimate of $5.781 billion represents 1.5 percent growth above final FY 2008 receipts. The initial estimate for FY 2010 is $5.782 billion, which is virtually unchanged from the newly revised FY 2009 figure.