PRELIMINARY REVENUE DATA SHOWS
CONTINUED UPWARD TREND

 (BOISE) Governor Jim Risch announced today that the preliminary economic data for the month of May shows another increase in revenue over projections.  The May increase was $33.3 million over projections by the Division of Financial Management.  This additional revenue is on top of the all time record increase of $110.1 million posted in April.

 The fiscal year 2006 budget projection shows that the budget surplus now stands at $168.5 million with one full month to go in the fiscal year.

 “This is excellent news as we head into the final month of the fiscal year,” said Risch.  “Our economy is strong, the jobless rate is low and we look forward to seeing this positive trend continue.”

 The preliminary May data showed strength in all sectors of the economy.  Individual income tax collections were up $26.2 million; corporate income tax beat projections by $3.1 million; sales taxes were up $4.0 million; and product taxes and miscellaneous revenue were on target for the May projections.

 Idaho’s new 2007 fiscal year begins July 1.

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