Hawaii Takes a $100 Million-Plus Hit as Council Downgrades Revenue Forecast

Hawaii Takes a $100 Million-Plus Hit as Council Downgrades Revenue Forecast

Panel foresees much lower growth than originally expected, meaning state government will have to get by on less.

Nathan Eagle
Honolulu Civil Beat

The state will have more than $100 million less than expected to fund government programs and pay public workers over the next year, based on the Hawaii Council on Revenues’ latest forecast.

The seven members had projected 5.5 percent growth for fiscal 2015, which started July 1, but they downgraded their general fund revenue forecast to 3.5 percent after a lengthy discussion Thursday. The governor’s office and Legislature rely on the estimates to prepare the state’s overall $12 billion operating budget…

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Honolulu Civil Beat
4 September 2014

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