Lt. Gov. On Thursday, Tate Reeves stated to Mississippi Today that the state requires between $725 million-$750 million for this month in order to break even for the fiscal. The fiscal year ends June 30. According to documents from the Department of Revenue, this revenue figure would be the highest in the last 13 years. Reeves stated in an interview that “When you’re trying to determine whether we’re making it in June,” he could not be certain. You can ask 100 people from the state government to tell you whether we will make it. The Republican from Florence said, “We don’t know.” “We’ll find out more as we get closer to the end the month.” A state law requires that the budget be balanced at all times during the fiscal year, even at the end. The governor can reduce the budget or draw from contingency funds such as the “Rainy Day Fund” if total revenue falls below total expected expenditures. This fiscal year has been challenging for state leaders. Gov. Phil Bryant made two budget cuts in the middle of the year to offset lower revenue. The January cut was $39.8million, and the April cut was $35 million. To offset the low revenue, Bryant also took $45.2 million out of the state’s Rainy Day Fund. It now holds about $350 millions. The Revenue Estimating Group, which is made up five of the state’s top financial officers, cut revenue projections twice in six months. One in October 2015, and another in April 2016. If the June revenue goal is met, it would be unprecedented in this year’s history. According to the Department of Revenue’s most recent figures, $543.4 Million in revenue was collected by the state in April. This figure is $85.9 million lower than what officials had expected. The state received $564.8 million in March, which was $20.9 millions less than what officials expected. “Well, we don’t yet know what June will bring, but there has been a trend,” stated Pete Walley, an economist at the University Research Center, who collaborates with State Economist Darren Webb. “So, you can assume that (April and May were outliers), there’s probably being an indication to us that June isn’t going to be up the estimate either.” In June 2013, Mississippi’s highest-ever June revenue was $695.8million. This was also the highest June revenue amount over the past 13 years. This amount would not be sufficient to balance the budget for this year. The state will not be affected by any potential deficit in the budget for the prior year as Mississippi switches to the new fiscal on July 1. Reeves was the State Treasurer from 2004 to 2012 and served as a member of the Revenue Estimating Group for eight year. He said that there is a two month “lapse period” in August, during which the business of the previous fiscal years is complete. Reeves stated that although agency and departmental transactions may not have been processed by July 1, they can be reconciled during the lapse period and added to budget calculations. He also said that some state agencies might not have used all the funds allocated by the legislature in the previous fiscal year. These funds would be returned to the General Fund balance to help with the budget shortfall. State officials have many options if the state fails to meet its June goal. Reeves suggested that another dip into the Rainy Day Fund might be an option. Reeves stated that the Rainy Day Fund’s remaining $350 million and approximately $150 million in other reserves accounts could help “Mississippi be well-positioned to close out Fiscal Year 2016.” “The governor is in constant communication with legislative leadership in order to determine how that will be handled if it does happen.” He said, “Our motto is pray for the best and prepare for the worst. And expect somewhere in-between.” He said, “So we’re preparing for the worst, prepare for the best, and expect somewhere in between.”