Mississippi finished the just completed fiscal year with nearly $700 million in surplus funds, according to a preliminary report compiled and recently released by the staff of the Legislative Budget Committee.
During the fiscal year ending June 30, Mississippi collected $7.69B, 10% above the official estimate.
The official estimate, developed by the legislative leadership, represents the amount of money anticipated to be collected in the FY to fund vital services such as education, health care and law enforcement.
The Legislature provides funding for those vital services based on the estimate. The amount collected above the official estimate - $699.6M - will go into surplus funds that can be appropriated by the 2024 Legislature. (Mississippi Today 07/10/23) State ends fiscal year with $700 million surplus, but collections may be slowing - Mississippi Today
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