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Governor Bullock Releases State Fiscal Year 2015 Results

Governor Bullock Releases State Fiscal Year 2015 Results

Montana Economy Strong and Getting Stronger

Thursday, July 30, 2015/Categories: Governor's Office/Tags: budget

FOR IMMEDIATE RELEASE: July 30, 2015

CONTACTS

Mike Wessler, Deputy Communications Director, 444-9725
Dan Villa, Budget Director, 444-3616

HELENA – Governor Steve Bullock today announced Montana ended Fiscal Year 2015 in robust fiscal shape. 

“Montana’s economy is strong and getting stronger,” said Bullock.  “Revenues exceeded expectations thanks to an improving economy driven by more Montanans on the job, increasing wages, strong tourism, more Montanan’s with health care coverage and businesses succeeding.”

Some specific facts highlighted include:

  • Montana’s unemployment rate is at a low 3.9%.
  • Montana’s wages are growing faster than all but 4 other states.
  • Montana’s workforce grew to 504,000 in June, 2015, the highest ever number of workers recorded in state history.
  • Montana state government spending came in more than $32 million under budget through efficiency measures
  • Montana has the 6th best tax climate for business.
  • Montana is ranked the best in the nation for entrepreneurs.

Under Governor Bullock’s leadership, the state has a rainy day fund of $388,000,000 and was able to transfer $51,000,000 to the fire fund.

“While other states are billions of dollars in debt, I’m proud that we were able to manage the state’s finances, grow the economy and put aside funds for a rainy day,” Bullock said.

The governor also noted that the rainy day fund was a bit higher than expected because a  $63 million investment proposed in SB416, a statewide infrastructure bill proposed by Sen. John Brenden (R-Scobey) and supported by the Governor, failed to pass the legislature by one vote.

According to Budget Director Dan Villa, general fund revenues were $2.199 billion.  This is approximately $24 million, or slightly over 1 percent, above the Governor’s Office of Budget and Program Planning’s estimate.

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