PIERRE, S.D.(WNAX)- The Joint Committee on Appropriations of the South Dakota legislature got an update on projected state revenues this week.

Jim Terwilliger, Commissioner of the Bureau of Finance and Management, told the panel they see an increase in revenue for the current fiscal year.

Terwilliger says they predict a modest increase in sales tax revenues for next year.

The grocery sales tax cut would reduce revenues by over one hundred million dollars a year.

Terwilliger says they have confidence in their forecast.

The committee will sign off on the state budget at the end of the session in early March.