State Revenues Continue to Drop Off
Wyoming Governor Matt Mead is, once again, asking state agencies to tighten their belts.
The latest Consensus Revenue Estimating Group (CREG) update published today, indicates revenue for the first part of 2016 is trailing earlier projections by $9.9 million.
"Declining revenues are not unexpected and look to continue in the near future," said Mead. "I have asked state agencies to reduce general fund spending in budgets by 8 percent in preparing for the 2017 supplemental budgets."
CREG says if coal production declines further, if natural gas prices slide further after the completion of the winter withdrawal season, or if oil prices or production decline again in the next three months, the shortfall could be worse.