BOISE, Idaho — Financial analysts say Idaho's budget surplus is estimated to be $1.6 billion.
The Division of Financial Management in a news release Thursday says general fund revenues for the first five months of the fiscal year that started in July are $255 million above projections.
The agency says the record surplus comes from an $890 million ending balance for fiscal year 2021, which ended June 30. This is combined with another $720 million more from the increased revenue forecast.
Republican Gov. Brad Little earlier this month hinted at possible tax cuts stemming from the projected surplus.