Idaho revenue falls short

BOISE — Idaho’s general fund grew by about $210 million in October, but it missed the month’s estimate by $1.6 million, according to a report from the Idaho Division of Financial Management.

October’s sales tax collections are most troubling because they represent real-time spending, Administrator Wayne Hammon said.

Sales tax revenue grew just 1.6 percent to $88.8 million in October, up from $87.4 million in October 2010. But it was forecast to increase 6.3 percent to $92.9 million.

The shortfall was partially offset by revenues in other categories that came in above their predicted amounts, the report said.

Individual income tax collections of $105 million topped the forecast by $1 million. Corporate income tax collections at $10.4 million exceeded expectations by $800,000. Product taxes were $3.3 million, which was $100,000 above the projected amount. Miscellaneous revenue of $2.4 million surpassed its forecast by $700,000.

For the first four months of the fiscal year, general fund collections were

$842.3 million, which was $10.8 million below the forecasted amount of $853.1 million.