Revenue Estimating Panel Adjusts Forecast Thursday

The state's revenue forecasting panel revises its income projections Thursday, giving the governor and lawmakers the latest numbers that will be used for devising next year's budget.

While the Revenue Estimating Conference may boost income estimates slightly for next year, legislative leaders say they don't expect adjustments to reach anywhere near the revenue levels needed to erase a $1.6 billion budget gap.

The 2011-12 fiscal year begins July 1. The governor will submit his budget proposal March 11. Lawmakers will craft a final version after that, in a regular session that begins at the end of April.