DES MOINES, Iowa (AP) – A panel of state budget experts says state revenue continues to grow but at a slower pace than recent years which means lawmakers may need to show spending restraint in next year’s state budget. The Revenue Estimating Conference met Friday and estimated state revenue for fiscal year 2016 at $7.19 billion, a 4.9 percent increase over the current year. The fiscal year begins in July.

State law requires Gov. Terry Branstad and lawmakers to use December estimates to draft the budget.
Department of Management director David Roederer, one of the three members of the panel, says the figure shows Iowa’s economy is showing strength but there are signs of slowing down which means closely watching spending.

For the current year revenue is estimated at $6.86 billion, a 5.7 percent increase.