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State panel updates Delaware revenue forecast

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(AP) – A state panel is updating Delaware’s official government revenue forecast for the first time since Gov. John Carney proposed a 3.5 percent increase in the operating budget for the fiscal year that starts July 1.

Monday’s meeting of the Delaware Economic and Financial Advisory Council is the first since Carney unveiled a $4.25 billion spending plan in January.

In December, the council boosted its revenue forecast for fiscal 2019 by about $24 million, based on higher projections for abandoned property collections.

Monday’s meeting could give officials a better handle on personal income tax collections, the largest single revenue source for the state.

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