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Arizona reports improved year-end budget figures

Arizona’s post-recession budget situation continues to improve as the state begins a new fiscal year in better shape than had been expected.

The legislative budget staff says tax revenue was $145 million more than anticipated during the fiscal year that ended June 30.

Meanwhile, spending was $112 million less than expected. Factors included slower than anticipated growth in K-12 school enrollment and a faster than expected decline in Medicaid enrollment for adults without children.

The budget already assumed a $122 million surplus, so the new spending and revenue figures add up to a $379 million surplus.

Budget-writers figure that the just-started new fiscal year also will have a surplus but that the next one will have a shortfall.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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