Section 7 Exclusion of ?Opening Balance?
| Library | Tax Law 2009 |
In Buechner v. Bond, 650 S.W.2d 611 (Mo. banc 1983), the Supreme Court of Missouri clarified that the “opening balance,” that is, unspent revenue from prior fiscal years, should not be included in total state revenue for purposes of determining the revenue limit. The controversy over the opening balance arose from the Missouri Constitution article X, § 17(1), language that provides that total state revenue includes “all general and special revenues, . . . as defined in the budget message of the governor...
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