Two reports say NJ revenue on target

Both Gov. Chris Christie’s administration and the lawmakers’ budget analyst say the New Jersey’s budget revenue is on track early in the fiscal year that started July 1, even though money coming in from casinos and the lottery is behind expectations.

The Office of Legislative Services released a report last week finding that revenue for the first four months of fiscal 2015 was up 5.6 percent over the same period a year earlier. The nonpartisan office says that matches the growth needed to fund the state’s budget.

Last month, the state Treasury Department said revenue for the first three quarters was up 6.1 percent. The administrative department says revenue needs to increase 5.2 percent over last year.

Both reports say sales, income and corporate tax receipts are up.