revenue

Don Rush

NEW CASTLE, Del. (AP) - A state panel is updating Delaware's official government revenue forecast for the first time since Gov. John Carney proposed a 3.5 percent increase in the operating budget for the fiscal year that starts July 1.

Monday's meeting of the Delaware Economic and Financial Advisory Council is the first since Carney unveiled a $4.25 billion spending plan in January.

In December, the council boosted its revenue forecast for fiscal 2019 by about $24 million, based on higher projections for abandoned property collections.

Don Rush

NEW CASTLE, Del. (AP) - A state panel has increased Delaware's revenue forecast for the current and upcoming fiscal years.

The Delaware Economic and Financial Advisory Council on Monday boosted its current year revenue estimate by $12.5 million compared to its May projections. The revenue estimate for fiscal 2018, which starts July 1, increased by $13.5 million.

Adding reversions of unspent funds, available revenue for fiscal 2018 increased by $27.4 million. That still leaves a gap of more than $350 million between estimated revenue and proposed spending for next year.

Official photo

DOVER, Del. (AP) - Democratic House and Senate leaders have told the legislature's budget-writing committee to halt its work amid concerns about spending cuts the panel has approved.

House Speaker Pete Schwartzkopf and Senate president David McBride instructed the Democratic co-chairs of the Joint Finance Committee on Wednesday to cancel a Thursday work session to allow legislative leaders from both parties to continue discussions on raising additional revenue to balance the upcoming budget.

creative commons

DOVER, Del. (AP) - The panel that sets Delaware's official revenue forecast has lowered its projections.

Monday's meeting of the Delaware Economic and Financial Advisory Council was the first since Democratic Gov. John Carney proposed a mix of tax increases and spending cuts last month to balance a budget for the fiscal year starting July 1.

WXDE-FM reports the council reduced revenue projections by $4.8 million for the current fiscal year and by $11 million for the next fiscal year.

Don Rush

DOVER, Del. (AP) - The panel that sets Delaware's official revenue forecast is meeting to update its projections.

Monday's meeting of the Delaware Economic and Financial Advisory Council is its first since Democratic Gov. John Carney proposed a mix of tax increases and spending cuts last month to balance a budget for the fiscal year starting July 1.

Revenues Up in Virginia

Feb 15, 2017
governor's office

RICHMOND, Va. (AP) - Virginia tax revenues surged last month, but Gov. Terry McAuliffe cautioned against assuming that the state's recent revenue swoon is over.

The Richmond Times-Dispatch reports McAuliffe announced Monday that revenues rose 7.4 percent in January over the previous January. He also says collections for the first seven months of the fiscal year are up 4.6 percent and ahead of the annual forecast revised in the face of last year's shortfall.

powerball logo

RICHMOND, Va. (AP) - Virginia lottery revenues were down in December from the previous year because there was no massive Powerball jackpot driving sales.

A recent report to state officials showed that lottery profits in December were $44 million in December, down 10 percent from the previous year.

The lottery expects profits to be off from last year's totals because a record $1.5 billion jackpot increased sales in December 2015 and January 2016.

Proceeds from Virginia lottery sales go to help fund public education in Virginia.

public domain clipart

DOVER, Del. (AP) - Delaware lawmakers are ready to start delving into the state's budget challenges with a series of committee hearings.

The legislature's Joint Finance Committee convenes Tuesday for the start of several weeks of agency budget hearings.

After an overview and orientation, the committee will hear a presentation from the Office of Management and Budget.

Other agencies to be considered Tuesday are the Department of Technology and Information and the Department of State.

creative commons

BALTIMORE (AP) - State gaming officials say the opening of MGM National Harbor helped Maryland's six casinos bring in record revenue.

Maryland Lottery and Gaming said in a news release Thursday that MGM in Prince George's County generated nearly $42 million from slot machines and table games. The casino opened on Dec. 8.

Officials say that amount and the revenue the other five casinos generated in December brings the total to more than $133 million. The previous revenue record of more than $104 million was set in May 2016.

Dover Downs website

The numbers are out for Maryland casino revenue.

As of last month the combined state wide total was $103.8 million dollars.

That’s up five percent from last year in July.

The biggest winner was Maryland Live Casino which raked in over $60 million in revenue while the Horseshoe Casino in Baltimore produced revenue of nearly $25 million.

Hollywood Casino Perryville generated $6.7 million with Ocean Downs earning around $6.5 million.

Ocean Downs is being bought by Churchill Downs Inc. and Saratoga Casino Holdings LLC.

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