Idaho’s General Fund revenue was reported $51.2 million above forecast through July and August 2026, but the available figures do not confirm that it exceeded forecast by $90 million in the full first quarter. Idaho’s fiscal year began July 1, so FY2027’s first quarter runs from July through September. The September report is needed to verify a three-month total.
What the available FY2027 figures show
Idaho Capital Sun reported on September 16, 2026, that August collections were $37.5 million above forecast and that collections for July and August combined were $51.2 million above forecast. The cumulative figure is a two-month year-to-date comparison, not a first-quarter result. Idaho Capital Sun’s report attributed the cumulative amount to the August FY2027 General Fund Budget Monitor.
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The same report said individual income tax collections in August were $40.8 million above that month’s projection. That is an August tax-category variance; it does not establish what happened in September or explain the full quarter.
Why the $90 million first-quarter figure is unverified
FY2027 began on July 1, 2026, making July, August and September its first quarter. The official Idaho Division of Financial Management (DFM) publication listing available in the cited material showed FY2027 reports for month 1 and month 2, but not month 3. Consequently, the available sources establish a $51.2 million surplus against forecast through August, but do not verify a $90 million surplus through September.
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For the three-month claim to be checked, compare actual General Fund collections for July through September with the forecast for that same period in the September report. A monthly surplus and a year-to-date surplus are not interchangeable: the latter accumulates the monthly differences, so September could increase or reduce the total.
How to check Idaho’s official revenue reporting
- Open DFM’s Economic Publications page and look for the FY2027 General Fund Revenue Report or Budget Monitor for month 3 (September).
- Read the report’s period label and compare actual collections with the forecast for July through September, rather than relying on August alone.
- Check which forecast is being used and its version or date. DFM’s Economic Dashboards describes its General Fund dashboard as comparing monthly and year-to-date actual collections with forecast.
- Use DFM’s Economic Analysis page for context on the agency’s role: its Economic Analysis Bureau develops the revenue side of the Executive Budget and monitors General Fund revenue performance.
Do not confuse FY2027 collections with FY2026 results
Idaho’s governor’s office reported that FY2026 General Fund revenue finished approximately $171.9 million above DFM’s revised forecast and approximately $19.2 million above the Legislature’s forecast. The office also said about $250 million in FY2026 year-end cash balance was expected to transfer to the FY2027 General Fund. Those are FY2026 year-end figures, not evidence of FY2027’s first-quarter revenue. The governor’s July 17, 2026 announcement reports those figures.
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What an above-forecast result does—and does not—mean
A revenue variance measures collections against a forecast; it is not automatically a surplus against the enacted budget, nor does it by itself determine the state’s ending balance. Idaho Capital Sun reported a conditional FY2027 ending-balance projection of $657 million if collections met forecast for the rest of the fiscal year. That was a projection based on an assumption, not a realized balance or a consequence established by the two-month variance.
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