State revenue continues slide, but financial position remains strong ...Middle East

While the state is still in a strong financial position, the downward trend in government revenue continued for May, according to a Legislative Budget Committee report. Through May, the 11th month of the fiscal year, the state has collected $6.9 billion in revenue or $17.9 million (-0.26%) less than what was collected during the same period the previous fiscal year. It is rare for the state to collect less revenue than was collected in the previous year. The collections would be much worse if not for a substantial spike in interest earnings due primarily to increased interest rates. Through May the state has collected $62 million or 96.7% more in interest earnings than it did during t

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