Public and private economists weigh in on the state of Arizona's economy on Thursday as legislative budget analysts evaluate Arizona's fiscal health.

State revenue collections are slightly off in August, the state’s budget analysts reported today. The Joint Legislative Budget Committee said revenues dropped by $3.3 million compared to the same time last year. It’s only the second time since July last year that monthly revenues have declined.

Arizona's economy showed more signs of recovery in November, the fourth consecutive month of year-to-year growth in state revenue.

Members of legislative budget committees on Feb. 18 saw how a secretive budget proposal that has been circulated around the Capitol in recent weeks stacks up to the budget plan offered by Gov. Jan Brewer, but much of the discussion focused on who drafted the authorless spending plan.

A House bill that aims to spur economic growth through tax cuts and incentives for businesses would cost the state nearly a billion dollars when fully implemented in 2017, according to a report by legislative budget analysts.

Nearly one-fifth of the state’s general fund revenues eroded in the 2009 fiscal year, the largest decline on record since World War II. New revenue figures show the state was short nearly $479 million in fiscal 2009, which ended June 30.