DES MOINES, Iowa (AP) — A panel of state budget experts is lowering Iowa revenue projections for the current fiscal year.
The Revenue Estimating Conference met Tuesday to project state revenue. Citing a slowdown in agricultural income, the group predicts the state will take in about $7.05 billion for the fiscal year that began July 1. That's less than the $7.18 billion they estimated earlier this year.
The three-member panel includes the governor's top budget adviser, the financial adviser to the Legislature and an independent member.
Department of Management director David Roederer says he does not currently anticipate the state will need to consider budget cuts due to declining revenue.
The panel will meet again in December to set the revenue projection that the governor must use to craft the next state budget.
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