AUGUSTA, Maine (AP) - A forecasting panel has revised its general fund projection upward by $139 million over the next two years.
The Maine Revenue Forecasting Committee said Friday that it projects an additional $40 million for the current fiscal year, which runs through June 30, and $139 million through the next two-year cycle ending in June 2023.
Democratic Gov. Janet Mills said the projection reflects that the state is “on solid financial footing.”
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The revised revenue forecast projects a total of $8.5 billion in revenues for fiscal year 2022-23, Maine Department of Administrative and Financial Services Commissioner Kirsten Figueroa said.
The revenue forecasting committee’s project is a forecast that is required by statute. It’s delivered to Mills and the Maine Legislature.
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