JEFFERSON CITY, Mo.—Missouri closed out its 2012 fiscal year with slightly better-than-expected revenues. But that doesn’t necessarily translate to a budget surplus.
Figures released Tuesday show Missouri had more than $7.3 billion in general revenues during the fiscal year that ended June 30. That’s up more than 3.2 percent compared with the 2011 fiscal year. And it’s also better than the 2.7 percent growth rate upon which the budget had been based.
State budget director Linda Luebbering says the extra money helped cover higher-than-expected costs for disaster recovery efforts and other estimated budget items, such as legal settlements. Luebbering says it could be early August before she’s able to report the final balance for the 2012 budget.