Interest on unprecedented amounts of federal cash keeps state budget afloat

Interest on unprecedented amounts of federal cash keeps state budget afloat by Bobby Harrison, Mississippi Today July 8, 2024 Over the last 12 months, the state collected $7.7 billion in revenue, about $18.4 million or 0.24% more than was collected the previous fiscal year. If not for collecting $68.7 million or 84.

And it is also important to note that the revenue above the estimate would have been much less if not for the aforementioned interest on earnings, which came in $120 million or 400% above the estimate. The amount collected above the official estimate — $181.7 million — will go into surplus that can be appropriated by the 2025 Legislature.

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