Net general fund revenues totaled $1.011 billion for the month of February, $41 million (3.9 percent) less than forecast. Net receipts from individual and corporate income taxes for the month were lower than forecast, net sales tax revenues were above the forecast, and other tax revenues matched the forecast. For fiscal year 2020, year to date receipts are now $14.223 billion. Because forecast receipts are now updated to reflect the February 2020 Budget and Economic Forecast, the fiscal year-to-date variance is the same dollar amount as the monthly variance, $41 million below the forecast, which is 0.3 percent of fiscal year-to-date revenues.

Note: All results are preliminary and subject to revision. Monthly revenue variances should be interpreted with great caution. Wide swings in variances may be caused by variations in the rate at which receipts are received and processed and differences in the rate at which refunds are issued.