Advisory board reviews economic forecast

The Nebraska Economic Forecasting Advisory Board met Feb. 28, to review their forecast for the current and next fiscal years. The board increased the previous forecast by $115 million for fiscal year 2019-20 and by $25 million for fiscal year 2020-21, for a total increase of $140 million over the two-year period. Most of the increase can be attributed to year-to-date actual receipts, as revenues from November through February were $111 million above the October forecast.

The $115 million increase for the current fiscal year is above the forecast certified in July, and by statute, revenues abov...