BOSTON (WWLP) - The Healey Administration's top budget official says Massachusetts' recent trend of slow revenue growth is likely to continue over the next year. Seven years later, hope remains for cannabis cafes The top budget official, Matthew Gorzkowicz, met with some of the state's top business leaders on Thursday. The fiscal year runs from July 1 to June 30, and Gorzkowicz says the state will have "some unavoidable deficiencies" they will have to address later in the year. During fiscal year 2024, non-surtax tax revenue was hundreds of millions of dollars less than expected. At the event, Gorzkowicz said the state is preparing for this trend to continue. While that non-surtax revenue was down last fiscal year, surtax revenue--also known as the Millionaire's Tax--was higher than expected. The Healey administration is pushing to redirect some of the surtax revenue to strategically plug last year's shortfall. This method of catching up on money shortages is intended to prevent money designated for initiatives like education and transportation from having to be used to bail the state out. The administration is also looking to revive a state savings account, which is currently running low due to huge expenditures on the emergency shelter system. Keeping this fund full helps ensure that Massachusetts' bond rating is high, which in turn allows the state to finance our school systems, roads, transportation system, and more. Despite the predicted underperformance of tax collection, the top budget official says Massachusetts has reason to be "cautiously optimistic about where we are going." Local News Headlines Springfield police looking for help locating 17-year-old runaway Chicopee Chamber of Commerce hosts workforce development listening session Massachusetts county ranks among best destination for fall foliage Basketball Hall of Famer Dikembe Mutombo dies at 58 WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on WWLP.com.