Revenue estimates play a crucial role in the state's budget process. The Legislature relies heavily on these estimates in deciding at what levels to fund state programs, how much money should be 11 put aside in reserves, and whether taxes should be raised or lowered. Consequently, the more accurate revenue estimates are, the more successful the Legislature can be in accomplishing its fiscal objectives--that is, selecting a combination of expenditure levels and tax rates that best meets the public's need and willingness to pay for services without giving rise to unwanted budget surpluses or deficits. In contrast, the more inaccurate revenue estimates prove to be, the more difficult it becomes for the Legislature to attain its objectives and manage the state's fiscal affairs effectively.