BISMARCK, N.D. – North Dakota state revenue is looking good five months into a two-year budget cycle.
General fund revenues are 10% ahead of the Legislature’s forecast. That’s about $106 million, according to an update to North Dakota lawmakers last week. State budget director Joe Morrissette told a legislative panel last week that it’s “a very positive story” but said a single negative month could quickly wipe that away. He also noted the forecast was conservative.
Oil prices are averaging about 30% above what was forecast. That’s a boost for oil taxes, a big part of the state budget. Sales taxes, the biggest part of general fund revenue, are about 11% ahead of forecast.
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