EagleTribune.com, North Andover, MA

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New Hampshire

July 4, 2014

N.H. budget sees $5.8M surplus

CONCORD, N.H. (AP) — Preliminary figures show the state ended its two-year budget cycle with a $5.8 million dollar surplus on the revenue side, lower than the $26 million that budget writers projected.

The figures released Wednesday show a boost in business taxes, tourism and tobacco taxes helped produce the surplus. The state has a $10.7 billion two-year budget.

State officials were still cautious. Last month, Gov. Maggie Hassan got legislative approval to freeze non-essential hiring, travel and equipment purchases. Two other reasons for concern: Taxes on interest and dividends are down $16 million for the year and taxes on telecommunications sales fell $4 million.

Final numbers will come out in three weeks and the surplus could shrink if spending controls are not met.

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