revenue forecast

We are getting a new forecast this week for tax revenues in North Dakota. Or so we are told. I’ve written about the problems with these forecasts in the past, but there is a further issue here needing discussion. The simple fact of the matter is a lack of good practice in the overall approach, particularly with how forecast results are disseminated.

Continue reading Tax Revenue Forecast Revisions in ND

Read more

The radio discussion today focused on the importance of forecasts and the forecast process in decision-making, particularly budgeting. Most of this related to various aspects of the forecasting and budgeting process at the state level in North Dakota and how it impacts other entities like UND. There was also some appropriate trashing of the forecasters that gave such erroneous predictions and then decide the state is in recession. I discussed some data which I want to make available here. There is more that will be put online as I get it created.

Continue reading Biennial Revenue Comparisons (from Jarrod Thomas Show)

Read more