North Dakota officials now estimate budget surplus could be at $614M by end of biennium

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BISMARCK, North Dakota — North Dakota's oil wealth-fueled general fund surplus continues to grow.

The Office of Management and Budget released updated revenue projections for the 2013-2015 biennium Friday.

Officials estimate the surplus will be at $614 million when the two-year budget cycle ends on June 30, 2015. The projection is significantly more than the surplus of $457 million projected in February.

The office also released its preliminary revenue forecast for the 2015-2017 biennium. Revenues are projected to total $5.17 billion, about $293 million over the revised 2013-2015 forecast of $4.88 billion.

The final revenue forecast for the 2015-17 budget cycle will come in November, with the governor's budget address to follow in December during the organizational session for the 2015 Legislature.

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