Maine adjusts 2012 revenues

AP News
Posted: Apr 04, 2012 10:48 AM
Maine adjusts 2012 revenues

Maine finance officials say the state has an additional $14.3 million in state revenues for 2012 caused by a delay in reconciling an account managed by the Maine Revenue Service.

Officials said Tuesday that the error was found during a review of month- end account balances in March.

H. Sawin Millett, Jr., commissioner of the Department of Administrative and Financial Services, says the department is working to ensure the error does not happen again. He says an MRS senior manager will conduct an in-depth monthly review of revenue accounting as well as analyses on each account.

He says he will also call a special meeting of the Revenue Forecasting Committee after the April tax filing deadline to figure out whether the state revenue forecast should be adjusted.