General Fund revenue collections exceeded revenue targets by $90 million in January, pushing the fiscal year-to-date revenue surplus to $360 million, or 2.3%. January marks the sixth straight month where tax collections exceeded the monthly targets.
Collections this fiscal year are $1.05 billion higher than at this point last year. Roughly one-third of this increase from last year is due to increased transfers from other funds and other non-tax collections in 2014-15. Tax collections are $707 million higher this year, or 4.9%, a general signal of an improving economy.