A special legislative session will not be needed to address a $14.6 million shortfall for the budget year that ended June 30, Gov. Kim Reynolds said in a release.

Instead, the state’s money managers will combine $13 million from an emergency fund with a fiscal year ending balance of $1.6 million to cover the gap.

The state has $605 million in reserve funds after closing the books on fiscal 2017, according to the release. Actual state revenues for fiscal 2017 were $7.095 billion, down from a projected $7.106 billion. Appropriations were $7.258 billion, up from a projected $7.254 billion.

“We have been monitoring funds daily since the end of the fiscal year on June 30 and took a measured approach in dealing with the state’s finances. We continue to closely monitor the current fiscal year’s balance sheet and do not believe action is needed at this time,” Reynolds said in a statement.

According to Department of Management Director Dave Roederer, revenues grew by 2.5 percent during the fiscal year, rather than the 2.7 percent predicted by the Revenue Estimating Committee; tax payments that arrived after June 30 totaled $73 million; and corporate tax payments were 5.6 percent more than planned. The estimating conference projected zero percent growth.