The Office of State Budget Director reported on Friday that March’s General Fund receipts grew 6.2 percent compared to March of last year, leaving the state on track to meet the estimate set by the Consensus Forecasting Group.
Total revenues for the month were $1,128.8 million, compared to $1,062.6 million during March 2025. Receipts have now fallen 0.4 percent for the first nine months of the 2026 fiscal year. For the just completed quarter, total General Fund collections grew 0.2 percent. Growth rates for the first three quarters of FY26 were -2.8, 1.4 and 0.2 percent.
The official revenue estimate calls for a 1.3 percent decline in revenue for the fiscal year. To meet the estimate, receipts can decline 3.6 percent over the last three months of the year.
State Budget Director John Hicks said: “That is consistent with the trend established in the previous four March revenue totals. Sales and use taxes had a strong showing with a 16.3 percent increase, with the recognition that last March receipts may have been slightly understated.
“A clearer view of the current state of General Fund revenues will emerge next month when March and April can be combined and compared to sum of the two months from 2025.”
Road Fund receipts for March totaled $151.7 million, a 6.0 percent increase compared to March 2025 levels. Year-to-date receipts have decreased 0.5 percent. Road Fund collections declined 2.0 percent in the just completed quarter after growing 0.1 percent and 0.3 percent in the first two quarters.
The official Road Fund revenue estimate calls for revenues to decrease 1.0 percent for the fiscal year. Based on year-to-date tax collections, revenues can fall 2.4 percent for the remainder of FY26 and still meet the estimate. Among the accounts, motor fuels rose 1.3 percent, motor vehicle usage revenue grew 18.8 percent, and license and privilege receipts decreased 1.0 percent.
Office of State Budget Director