A month ago, the Board of Economic Advisors cut $108 million from its estimate of what the state should expect to collect in taxes and other revenue during the fiscal year that began July 1.
That 2 percent reduction prompted the state Budget and Control Board to tap one of the state's reserve funds and tell agencies to set aside 1 percent of their budgets, or about $43 million.
The BEA said Friday the state's revenues are growing at slightly less than 1 percent, a half-percentage point less than expected. That's about $21 million off target in a $5 billion budget.
Chairman John Rainey said lowering the forecast last month narrowed the gap.