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October 2020 Rev-E-News Monthly North Dakota Revenue Report

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The Budget Stabilization Fund was established in 1987. Pursuant to Section 54-27.2-01 of North Dakota Century Code, the fund is limited to no more than 15 percent of the current biennium General Fund appropriation and once that maximum is reached during a biennium any additional deposits or interest that would normally go into the fund are to be deposited in the General Fund. For the 2019-21 biennium the maximum balance is $726,534,475. The fund reached its maximum balance in March 2020 and despite subsequent investment declines and market volatility, the fund made a strong recovery and ended the fiscal year with a surplus of $369,136. A transfer of this amount was made to the General Fund in September.

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Click here for a printable version of the revenues compared to the legislative forecast.

Click here for a printable version of the revenues compared to the previous biennium.

Comments or questions? Contact Joe Morrissette, Office of Management and Budget Director.

Credits:

Photos: ND Tourism; OMB