State revenue forecast foretells budget shortfalls

Revenue forecasts expect an ongoing budget shortfall to continue over the next five yeas, primarily due to cratering income tax collections.

TOPEKA — Kansas revenue forecasters expect income tax collections to fall below previous predictions for this year and next, complicating a budget outlook that shows the state plunging deep in the red for the next five years.

A group of economists from two state agencies, the Kansas Legislative Research Department, the University of Kansas, Kansas State University and Wichita State University revealed their latest “consensus revenue estimate” on Monday. The estimate is revised each April and November.

“The group’s examination of the economy this spring noted many potential risks,” said Shirley Morrow, director of the Kansas Legislative Research Department. “We have the Iran military conflict. We have market volatility, high input prices, interest rates and the potential for a re-acceleration of inflation. However, the Kansas economy and our corresponding state general fund receipts appeared to be resilient and largely stable in the face of these risks.”

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