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• The Legislature's budget analysts came up with similar estimates.
• The Joint Appropriations Committee took no action on the estimates Thursday, but plans to make a formal decision Monday on how much money to expect. The panel then will put together a budget for next fiscal year that will be submitted to the House and Senate for passage before the legislative session's main run ends next week.
• Daugaard has proposed a $4.1 billion budget for next fiscal year, with more than $1.3 billion of that coming from state general tax collections.
• The economists predicted Thursday that tax collections and other ongoing general revenues next year will be about $1.32 billion, up about $57 million from this year.
• Terwilliger said the state economy is growing more slowly than had been expected after the recession because of uncertainties caused by federal budget cuts, a lingering drought and other factors.
• "Overall, the outlook with all the uncertainties is for moderate, below-average growth," Terwilliger told the lawmakers. "There are just a lot of things out there now that are unknown."
• The economists said they did not adjust their forecasts because of the automatic cuts in federal spending that could take effect Friday, but Terwilliger said those cuts could slow the national and state economies if President Barack Obama and Congress fail to reach a deal for alternate cuts soon.
• Fred Schoenfeld, the Legislature's chief fiscal analyst, said it's difficult to know how much state revenue will be affected by the federal cuts.
• "There's little question that the uncertainty connected with the looming fiscal cliff has a chilling effect on the economy and on recovery from the recession," Schoenfeld said.
• Non-farm jobs and income are expected to grow in South Dakota over the next year, Terwilliger said. Non-farm income is predicted to grow by 3.1 percent this year and $4.6 percent in 2014, he said.
• Terwilliger said revenue from the sales tax -- state governments largest money source -- is expected to grow by about 4 percent this year and 3.8 percent next year, when it is expected to bring in $803 million.
• Revenue from the contractor's excise tax should grow by 1.5 percent this year and nearly 6.4 percent next year, Terwilliger said.
• Revenue from video lottery is expected to hit $96.2 million next year, up from $91.6 million this year, he said.
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