February state revenues up

JEFFERSON CITY, Mo. -- State revenues were up 2.8 percent in February compared to the same month a year ago, the state Department of Revenue said Wednesday.

The growth reverses a 6.7 percent drop in January and brings the state's year-to-date revenues to 3.1 percent over last year. The state's fiscal year began last July and runs through June.

Despite continued revenue growth, state economists have forecast the state to end its fiscal year with less money than it had the previous year.

Officials have said the next few months -- when many Missourians file their personal income tax returns -- will be key to the state's budget. Income taxes are expected to fall because of the stock market's poor performance last year and a recession that has resulted in layoffs and salary freezes.

Individual income tax collections so far are up 2.7 percent for the fiscal year. Sales tax collections are up 2.4 percent for the fiscal year.