/ Modified jul 22, 2013 12:09 p.m.

AZ Revenues Above Budget for Fiscal 2012-13

Legislative budget analysts report $9.13B brought to state coffers, 1.7% ahead of projections.

Arizona state revenues were 1.7 percent ahead of budget projections for the 2012-13 fiscal year that ended June 30, the Joint Legislative Budget Committee reported on Monday.

The report said a preliminary look at general fund revenues showed that they totaled $9.13 billion, or $155.9 million more than the state budget had projected they would be.

The JLBC report said state expense figures for the just-ended fiscal year were not yet available, so the state's ending balance was not available.

In the 2013-14 budget, passed by the Legislature and signed by Gov. Jan Brewer last month, a $304 million rollover from the previous fiscal year was anticipated. Any added funding will be used to meet higher spending levels in the new fiscal year, mostly for education, children's services and other ongoing governmental expenses.

The report said that retail sales tax revenues, excluding the temporary 1-cent sales tax, rose 6.4 percent for the fiscal year, while all sales and use tax revenues rose 3.5 percent.

The 1-cent sales tax, which expired at the end of May, brought the state 5.1 percent more in the fiscal year than in 2011-12, the JLBC report said.

Other key revenue categories in the report included a 10.1 percent increase in individual income taxes collected and a 2.8 increase in corporate income taxes, a 5.1 percent decline in tobacco taxes and an 8.9 percent increase in liquor taxes. State lottery revenues for the year were down 9.7 percent.

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