Aug. 31, 2010

STATEMENT OF GOV. BARBOUR ON PRELIMINARY AUGUST REVENUES

“The state’s preliminary revenue collections as of today show our conservative estimate for this fiscal year is on target so far. August revenue came in at 3.91 percent, or $12.4 million, above estimates. While tax collections for the first two months of the fiscal year have been close to our expectations, nothing changes the fact that we face a massive budgetary cliff in Fiscal Year 2012 when several hundreds of millions of federal stimulus dollars go away. We must keep this fact in mind as we begin planning our FY 2012 budget.”