Georgia ended its 1992 fiscal year on June 30 with four straight months of strong revenue collections, enabling the state to avoid spending cuts or worker layoffs, said Gov. Zell Miller.
According to a statement released by Gov. Miller, Georgia's revenues in June were 6.3% above those in June 1991. This performance followed three previous months with revenue collections also more than 6% over the 1991 period.
With final figures in for the 1992 fiscal year, Georgia fell only $10 million, or 0.1%, short or revenue expected to cover 1992 expenditures.
The difference will be made up from money allocated for but not used by state agencies, state officials say.
"Certainly, the pattern of advance and yearend growth rates that have been achieved in fiscal 1992 give the fiscal 1993 budget a solid start," Gov. Miller said.
His optimism for the 1993 fiscal year follows tough times for the state during much of the last fiscal year.
Last August, in a special legislative session, state lawmakers approved $415 million in cuts and laid off more than 700 workers.
In early 1992, lawmakers revised the 1992 budget to raise taxes and fees by $209 million.