Legislative update on the status of General Fund and other fiscal issues.

Arizona State Legislature

November 26, 2012

The JLBC Staff reports monthly to the Legislature on the status of General Fund revenue
collections and other fiscal issues. This report can be found on the following link:
www.azleg.gov/jlbc.htm. Among the key points of the document:

1. Revenues for the month of October continued the slow growth trend of past
months. General Fund collections totaled $662.7 million, 2.6% above the same
month last year.

2. The growth in October is largely attributed to the growth in individual income
taxes. This category grew by 5% compared to the prior year, due mostly to
technical timing reasons (two extra processing days this year).

3. October General Fund collections were $11.7 million above the enacted budget

4. Year-to-date, revenues are 3.1% higher than last year and are $2.3 million above
the budgeted forecast.

5. The operating fund budget is a good measure of the state’s economic health. As
of mid-November 2012, the operating balance was $1.2 billion.
The three of us are grateful for your support in the most recent election, and look forward to
continuing to serve you and the State of Arizona. As always we welcome your questions and/or

Senator John McComish
Representative Bob Robson
Representative Jeff Dial chumly.com/attachment/10307070

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