Another drop in Colorado sales-tax revenue - Pittsburgh Business Times:

http://shadowhour.com/index.php/show-notes/89-1062010-lady-mimi-lansou-and-the-magical-world.html
percent — in May from the same month the year girding legislators for what they expect will be another round of cuts innext year’s fiscal With the state most of the way through a fiscal year that ends on June 30, no more cuts are likelt for this year, said Joint Budgeg Committee Vice Chairman Jack Pommer, a Democratic representative from Boulder. The Legislatured has designated that any further funding shortfall this year will be filles by money fromthe state’s undesignated reserve fund and from a one-dayt borrowing of other funds to be repaid on July 1.
the continued fall of revenues below expectations meanse the six JBC member who setthe state’s budget must begibn looking soon at additional ways to scales back expenses or services in next year’s fiscal plan, severakl members said. “I guess this means we’rr not out of the woods yet,” Pommefr said. “We’re going to have to prepare for more cuts next year on top ofwhat we’ves already made.” Legislators filled a $1.4 budget shortfallk over the past six months by raiding the reserve transferring hundreds of millions of dollars from cash-funde d accounts and cutting about $300 million in services.
As revenuexs continue to come inbelow forecast, that talk will beginn again. State sales-tax receipts for May were off by $30 a 17.9 percent drop from last Individual income taxes fellby $66.3 million or 19.7 and corporate income taxes dropped by $2.2 million or 13.2 State reserves have about $148 milliohn that can be used to offset revenue shortfalls, noted Rep. Mark Ferrandino, If the state must transfer funding however, that will only push the problemm of balancing the budget further off untilnext year, he “The question is: Does revenue in the future pick up if we’res starting to see recovery, or not?” Ferrandinok said.
“We’re starting to see some indications that the economg is starting to if notlevel off.”