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State revenue forecast reflects increasing economic stability Print E-mail

The June state revenue forecast, released this morning, reflects an increasing stability in Oregon’s economic outlook, state economist Mark McMullen told a joint legislative committee this morning.

The forecast for the current biennium is technically up $115 million because of one-time adjustments made during the February legislative session.  However, those adjustments were related primarily to recent legal settlements and the revenue is already allocated.

Bottom line, according to McMullen, is that the revenue sources – combined general fund and lottery revenue – traditionally calculated for the state revenue forecast are down slightly, by about $22 million in 2011-13, and $20 million in 2013-15.  Overall, he said, the consensus outlook for Oregon among economists is one of stability, with continued slow growth.  

Looking ahead, if the 13.3% increase projected in the forecast for 2013-15 is realized for K-12’s allocation, it would mean that schools would receive a total of about $6.45 billion in the next biennium.

This page was last updated on Monday, June 11, 2012 .