North Dakota has billions in the bank: State general fund revenues are higher than expected


Image: AP

BISMARCK, N.D. (AP) — North Dakota’s general fund should collect far more money than expected in the two-year budget cycle that ended last month.

The state’s top budget writer says strong oil prices and a rebounding economy bumped general fund revenues to $5.7 billion for the 2019-21 budget cycle.

Lawmakers forecast general fund revenues at $5.4 billion, with a positive balance of about $710 million.

The additional revenues mean the general fund will now have an ending balance of more than $1 billion.

General fund spending goes to many programs, including education and human services. It’s largely funded by taxes on income, sales, and energy.

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