The Consensus Estimating Group met today to revise the SGF revenue estimates for FY 2011 and to make its first estimates for FY 2012. ... For FY 2011, the estimate was increased by $17.9 million, or 0.3 percent, above the previous estimate (made in April and subsequently adjusted for legislation enacted during the veto session). ... The initial estimate for FY 2012 is $5.811 billion, which is $25.4 million, or 0.4 percent, above the newly revised FY 2011 figure.

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 2, 2010, and slightly increased the estimate for FY 2011 and developed the first estimate for FY 2012. For FY 2011, the estimate was increased by $17.9 million, or 0.3 percent, above the previous estimate (made in April and subsequently adjusted for legislation enacted during the veto session). The initial estimate for FY 2012 is $5.811 billion, which is $25.4 million, or 0.4 percent, above the newly revised FY 2011 figure.

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, 2011, and increased the estimate for FY 2012 and developed the initial estimate for FY 2013. For FY 2012, the estimate was increased by $199.1 million, or 3.3 percent, above the previous estimate (made in April and subsequently adjusted for legislation enacted during the veto session). ... The first estimate for FY 2013 is $6.291 billion, which is $46.3 million, or 0.7 percent, above the newly revised FY 2012 figure.

Pursuant to KSA 75-6701, the Legislative Research Department has adjusted the most recent estimates of State General Fund (SGF) receipts for FY 2012. These adjustments reflect the fiscal impact of legislation involving receipts to the SGF enacted during the 2011 Legislative Session subsequent to the Consensus Revenue Estimate made on April 15, 2011. No legislation was enacted after that date that affected FY 2011 receipts. The attached tables show changes by source and incorporate those changes into the overall FY 2012 estimates. FY 2012 receipts were increased by $258.454 million relative to the April estimate.

Pursuant to KSA 75-6701, the Legislative Research Department and Division of the Budget have adjusted the most recent estimates of State General Fund (SGF) receipts for FY 2010 and FY 2011. These adjustments reflect the fiscal impact of legislation involving receipts to the SGF enacted during the 2010 Legislative Session subsequent to the Consensus Revenue Estimate made on April 16, 2010. The attached tables show changes by source and incorporate those changes into the overall estimates for FY 2010 and FY 2011. FY 2010 receipts were increased by $36.731 million relative to the April estimate, attributable to several changes in transfers enacted in the omnibus appropriations bill. FY 2011 receipts were increased by $672.529 million, with much of the difference attributable to a sales and use tax rate increase and numerous adjustments to transfers. An additional section has been added to this report discussing the implications for SGF receipts in FY 2012 relative to certain legislation enacted in 2010 and prior years.

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