For Fiscal Year 2023, when compared to the prior year through May 31, North Carolina experienced an increase in General Fund receipts which include tax and non-tax receipts. Tax revenues decreased by $342.4 million or 1.1 percent, and non-tax revenues increased by $352.0 million, or 42.2 percent as compared to the previous year.
The General Fund’s unreserved fund balance as of May 2023 was $5.4 billion as compared to $8.1 billion as of May 2022.
More detailed information is contained in the most recent monthly report on the General Fund compiled by the Office of the State Controller. This report can be found at www.osc.nc.gov. Click on the “General Fund Monthly Reports” button. The OSC website includes General Fund monthly budgetary basis financial information back through June 1998.
The following graph shows the daily fluctuation of the unreserved fund balance for the current and prior fiscal years.
The State Controller is North Carolina’s chief fiscal officer. The Office of the State Controller serves as an independent resource to ensure the financial integrity of the State by providing accounting, disbursing, payroll, internal control, data management, eCommerce, and financial reporting systems that serve state agencies, employees, and the public.