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Report: Nevada general fund revenues up 4 percent

Report: Nevada general fund revenues up 4 percent

CREATED Jan 21, 2014

CARSON CITY, Nev. (AP) -- A report by state Controller Kim Wallin shows Nevada's general fund revenues rose 4 percent in the last fiscal year.

An annual financial report for the fiscal year ended June 30 says money that goes to the state general fund totaled $6.5 billion, up from $6.2 billion in 2012.

Intergovernmental revenue saw the largest increase, up $145 million. That includes grants from the federal government.

Sales tax revenue was up nearly $60 million from the previous year, while taxes on gambling revenue rose $12.6 million.

But the report adds that revenues from sales and gambling taxes are still well below pre-recession levels.

Expenditures in 2013 increased by 2.7 percent to $6.4 billion, with most of those costs associated with increases in the Medicaid program.