Idaho Ends Budget Year With a Substantial Surplus
Have you ever found some extra change in the couch or a random $20 in your jeans? The State of Idaho just experienced something similar - ending the fiscal year with an extra $94 million in their pockets.
Yes, $94 million dollars of tax revenue beyond what the budgeted and expected income levels would be. This is for the fiscal year 2017 which was completed at the end of June. The state brought in $3.45 billion dollars while the budgeted prediction was $3.35 billion.
Governor C.L. "Butch" Otter credited the the policies put in place in the state for the unexpected results.
So where does all the extra income go? Earlier in this year, lawmakers enabled a policy that moves excess state revenues into either rainy-day funds or roads and transportation projects. That will be the case with this surplus.
For more on this, check out the story from US News & World Report.