MADISON, Wis. (AP) — Wisconsin tax collections for the fiscal year that ended June 30, more than four months into the coronavirus pandemic, were nearly on par with projections made before the COVID-19 outbreak.

The state Department of Revenue announced Monday that tax collections were down $112.6 million, or less than 1%, compared with projections, a bit of good budget news as the state braces for shortfalls due to the recession caused by the pandemic.

Co-chairs of the Legislature’s budget committee urged caution, saying the true impact of COVID-19 won’t be felt until next year.