BISMARCK, N.D. (AP) - North Dakota continues to see bleaker-than-expected state tax revenue collections from declining slumping oil and crop prices in the state.
Office of Management and Budget Director Pam Sharp says revenues for August totaled $139.3 million. That’s $9.2 million less than what had been projected.
North Dakota legislators agreed in August to cut spending for most state agencies to help cover a $310 million budget shortfall, signaling some of the money for social programs could be restored if revenues eventually recover from slumping crop and oil prices.
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Tax collections are down $488 million for the current two-year budget cycle compared to the previous biennium.
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