States’ Revenue Estimating: Cracks in the Crystal Ball

Source: Pew Center on the States and The Nelson A. Rockefeller Institute of Government, March 2011

States have been making more serious errors in estimating their revenues during tough economic times, according to this report by the Pew Center on the States and the Rockefeller Institute. Driven largely by increasing volatility in state revenue systems, this trend has major implications for officials who set budgets for programs and services while grappling with severe fiscal shortfalls.
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