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Arizona reports improved year-end budget figures

Arizona reports improved year-end budget figures

CREATED Jul 23, 2012

Web Producer: Ina Ronquillo

PHOENIX (AP) - Arizona's post-recession budget situation continues to improve as the state begins a new fiscal year in better shape than had been expected.
The legislative budget staff says tax revenue was $145 million more than anticipated during the fiscal year that ended June 30.
Meanwhile, spending was $112 million less than expected. Factors included slower than anticipated growth in K-12 school enrollment and a faster than expected decline in Medicaid enrollment for adults without children.
The budget already assumed a $122 million surplus, so the new spending and revenue figures add up to a $379 million surplus.
Budget-writers figure that the just-started new fiscal year also will have a surplus but that the next one will have a shortfall.

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