News

Montana budget surplus approaching $1B

Despite uncertain financial clouds overhead, Montana state government again shows a large projected general-fund budget surplus approaching $1 billion with the Legislature convening in three months, the state Legislative Fiscal Division said Wednesday.

Its estimates for the two-year budget period that ends in mid-2011 show what the division calls a “projected present law excess,” or surplus, of $778.6 million. However, if the $178.5 million that the Legislative Fiscal Division recommends setting aside for certain reserves is added to the $778.6 million excess, the total surplus grows to $957.1 million.

That compares to an equivalent figure of $906 million at this time two years ago, said Terry Johnson, the division’s chief revenue forecaster.

By CHARLES S. JOHNSON Missoulian State Bureau

Full Story: http://missoulian.com/articles/2008/10/08/bnews/br17.txt

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