The latest tally shows the State of Iowa collected 10-point-six BILLION dollars in taxes and fees during the fiscal year that ended June 30th. That’s 619-million dollars ABOVE the estimate officials made in March. One reason the CURRENT surplus is so much higher than predicted is because officials had expected the state would pay out considerably more in tax refunds, but Jeff Robinson of the Legislative Services Agency warns the state is still due to send some local option sales tax money to local school districts and other calculations are still being made.

In July and August — the first two months of the current state fiscal year — net tax revenue fell more than 11 percent compared to the same two months last year.