State budget Director Linda Luebbering announced the Fiscal Year 2009 ended with net general revenue collections declining 6.9 percent compared to 2008.  That translates from a drop in net collections from $8 billion to $7.45 billion over all.

The figures for June '09 compared to June '08 indicate an even steeper short term decline in net revenues for Missouri.  A 23.9% drop was reported, from $826.3 million to $629.3 million when those months were compared. 

However, the June comparison is home to the only recurring item on the state's balance sheet that stood out for an increase in 2009 over 2008: liquor tax receipts.  While beer tax revenues increased a modest 1.42% when June '08 was compared with June '09, liquor receipts increased an impressive 18%.

Local liquor store owners reported that they did not notice a significant increase in sales of hard liquor compared to beer and were unaware of any increased tax on liquor that had gone into effect between last June and last month.

Other tax revenues decreased across the board for the whole of 2009 as compared with 2008:

• Sales and Use taxes dropped 5.8%
• Individual income taxes decreased 2.9%
• Corporate Income taxes decreased 13.9%

The release came mid-afternoon before a holiday weekend.  In it, Ms Luebbering is quoted as estimating that the 2010 'concensus revenue estimate will not be attained.  She also is quoted as saying, "Governor Nixon has acted accordingly, making difficult decisions to reduce the FY 2010 budget..." and then emphasizes how the Governor will try to spare essential services like education, health care and public safety funding.

It should be noted that Missouri's budget woes have yet to hurt it's 'credit score' as it is one of only nine states to maintain the highest, AAA, bond rating by Moody's rating service.