Analysts bolster Kansas revenue projections, envision less dire budget outlook

TOPEKA — Kansas’ official revenue forecasters say economic damage from the COVID-19 pandemic will be far less severe than previously projected for the state’s bottom line. Next year’s budget shortfall now is expected to be $152 million, a considerable upgrade from the $1.4 billion deficit anticipated earlier this year. The Consensus Revenue Estimating Group, composed of state analysts and university economists, released revised figures on Friday that include an increase of $477.2 million in revenue for the 2021 fiscal year, which ends in June. J.G. Scott, director of the Kansas Legislative Research Department, said positive economic factors include job gains between April and September, improved trade with China, farm revenue bolstered by federal subsidies and a rise in commodity prices, and recovery of oil and gas sectors.Source: Kansas Reflector