Delaware Panel Updates Official Revenue Forecast - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Panel Updates Official Revenue Forecast

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NEW CASTLE, Del. (AP) - A state panel is updating Delaware's revenue forecast as the time approaches for lawmakers to begin marking up Gov. Jack Markell's proposed budget for the fiscal year starting July 1.
    
Monday's update follows a meeting last month in which the Delaware Economic and Financial Advisory Council lowered the official revenue projection for the current fiscal year by about $38 million.
    
The decline was mostly offset by a corresponding increase in the upcoming fiscal year because of an accounting change involving abandoned property.
    
The net result of last month's revisions was that lawmakers had about $4 million less to work with, compared with September's estimates, as they considered Markell's proposed $4.1 billion budget for fiscal 2017.
 

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