The Governor’s Office of State Planning and Budgeting has projected a state general fund revenue to be close to $240 million higher than what was originally forecasted in March. These excess funds will carry over to next year’s budget and transferred to the State Education Fund based on current expenditures. Gov. Hickenlooper was pleased to hear these figures but pointed out we still have a ways to go before full recovery. If you make adjustments for inflation it turns out that the state general fund revenue is still way short from what it was five years ago. This budget forecast increase is primarily due to higher than expected individual and corporate income tax revenue.