(Bismarck, ND) Governor Doug Burgum Thursday welcomed positive news regarding the state’s two-year budget cycle that ended June 30th. Preliminarily figures indicate a positive balance of more than $1 billion in the general fund for only the second time in state history.
The 2021 Legislature expected general fund revenues to total $5.4 billion for the 2019-21 biennium, but preliminary revenues show the state will likely collect $5.7 billion. As a result, the estimated ending balance of over $1 billion in the state general fund will be nearly $320 million more than projected in the legislative budget.
“Despite revenue disruptions caused by historic challenges including the COVID-19 pandemic, extreme drought and low oil and farm commodity prices, North Dakota made it through this last budget cycle with responsible fiscal management and is well-positioned for growth,” Burgum said. “These robust state revenues – including what’s expected to be a record-setting June wit
Burgum: Preliminary figures show 2019-21 budget exceeded expectations with $1B positive balance
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North Dakota’s sales tax collections in April were 5.1 percent over the original Legislative revenue forecast from 2019.
Collections were $3.8 million over that forecast, which was adopted before the COVID-19 pandemic.
North Dakota Office of Management and Budget Director Joe Morrissette called that significant. For the biennium to date numbers, in terms of sales tax, we re still slightly below the forecast but only by 2 1/2 percent, Morrissette said. To be only 2 1/2 percent below the original mark, as we see economic recovery and move beyond the pandemic, I think it s a positive story a lot of states wish they could tell.
Through April, the state has collected nearly $1.7 billion in sales tax.