INCREASES, DECREASES, AND TRENDS IN THE REVENUES SUPPORTING THE STATE GOVERNMENT
The 2023 fiscal year, which ended on September 30, was a mixed year for Alabama revenue collections.
After several years of strong growth, Alabama tax collections turned in a mixed performance in 2023, with the General Fund (GF), which supports non-education spending, up substantially. Education Trust Fund (ETF) revenues, meanwhile, were basically flat after increasing by record levels in 2022.
GF collections increased 16.6%, led by a steep rise in revenue from interest on state deposits. The ETF barely budged, up 0.11%, with sales tax revenue increasing but income tax revenue down. That’s according to reports released last month by the state.
PARCA’s interactive charts allow you to explore trends in the various revenue sources that support the operations of state government in Alabama. For a detailed review of FY 2023 collections, see our complete report in a printable version. Or read an embedded copy of the report below.