Arizona state revenues were $8.7 million ahead of the projections in the budget for July, the first month of the 2013-14 fiscal year, the Joint Legislative Budget Committee reported Thursday.
It said July revenues came in $6.1 million, or 5.4 percent, ahead of July 2012. The figures were adjusted to account for the temporary one-cent sales tax, which expired at the end of May.
Sales taxes, considered a sign of economic health, were 5.4% above July 2012 and $600,000 above the forecast for the month.
July retail sales tax revenues were 8.8 percent higher than a year ago, reflecting June sales.
Contracting collections, also reflecting June activity, were 16.3 percent higher than a year ago, the fourth straight month of double-digit increases, a reflection of the regenerating construction sector.
The JLBC reported that the state's expense report for fiscal 2012-13 was not yet available, so the fiscal year ending balance was not known. Revenues for the just-ended fiscal year were revised upward slightly, to $9.15 billion.