General revenue down 10 percent through September

The latest monthly revenue report from the Missouri Office of Administration continues the bleak financial picture the state has been facing for most of the current fiscal year.

Overall, net general revenue collections for the fiscal year to-date are down 10 percent to $1.71 billion, compared to $1.9 billion during the same period in fiscal 2009. For September, the state collected $648.7 million, down 16.3 percent from the $774.7 million collected last year.

Sales and use tax collections are down 6.7 percent for the year, following a 10.6 percent decrease for the month, while individual income tax collections dropped 12.6 percent in September and are down 8.2 percent so far this fiscal year.

Collections also are down so far this year in corporate income tax and other collections: 9.3 percent and 10.2 percent, respectively. Additionally, refunds are up 17.4 percent for the year after a 32 percent increase last month.

The low income numbers compound the state's budgetary issues; Gov. Jay Nixon announced in August that he was cutting or restricting more than $400 million in spending for the current fiscal year.

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