Biennial Revenue Estimate 2014-2015
The Biennial Revenue Estimate (BRE) is a formal estimate of the funds likely to be available from taxes and other revenue sources over the next two years.
Excerpted from the Transmittal Letter:
“For 2014-15, the state can expect to have $101.4 billion in funds available for general-purpose spending. This represents a 12.4 percent increase from the corresponding amount of funds available for 2012-13.”
“General Revenue-related tax and fee collections in 2014-15 are estimated to total $96.2 billion, with tax revenues accounting for approximately 89 percent of the total. Reserved from $96.2 billion is an estimated $3.6 billion representing oil and natural gas revenues that will be deposited to the Economic Stabilization Fund.”
“Significantly bolstering the anticipated revenue collections of $96.2 billion for 2014-15 is the ending 2012-13 General Revenue-related balance, projected to be $8.8 billion. This projected ending balance is a reflection of better-than-expected revenue collections as the state rebounded from the recession and the positive effects of robust oil and natural gas activity over the past several years.”
“In addition to the General Revenue-related funds, the state stands to collect $112.0 billion in federal receipts and other revenues dedicated for specific purposes and therefore unavailable for general-purpose spending. Revenue collections from all sources and for all purposes should total $208.2 billion.”