DOVER, Del. (AP) -- Delaware's gloomy revenue forecast brightened a bit on Monday thanks in part to April tax returns, but officials warned that clouds remain on the horizon for next year.

The latest revenue estimate approved by the Delaware Economic and Financial Advisory Council shows a surplus of about $41 million for the fiscal year that ends June 30, an amount that can be carried over to fiscal 2009, which starts July 1.

The surplus is the result of three rounds of budget cuts and other money-saving strategies -- which have totaled almost $139 million for the current fiscal year -- combined with some positive developments since the DEFAC met last month. Those developments include a favorable ruling in a tax case and better-than-expected April tax returns.

Estimated revenue from personal income taxes increased $19.5 million for this year and $14.5 million for next year compared with last month, while corporate income tax estimates were up $8 million and $2.5 million, respectively.

Bank franchise taxes for both years also increased, with this year's jump of $10.5 million attributed to the U.S. Supreme Court's refusal to consider an appeal by a Lehman Brothers subsidiary that was fighting a tax bill from Delaware.

Abandoned property collections, or escheat, remains a concern, however. More than half of the $24 million increase for this year, compared with the April estimate, is due to a decision to eliminate a $15 million reserve in the escheat fund. The estimate for fiscal 2009, meanwhile, dropped by $40 million compared to April.

Despite the positive income tax and bank franchise tax numbers, lawmakers still must find a way to close a shortfall of $217 million between estimated revenue and proposed spending for fiscal 2009. The financial advisory council, which lowered the official revenue estimate for fiscal 2009 by $29 million in December, $200 million in March and $12.7 million in April, trimmed it by another $500,000 on Monday.

"All hands on deck for '09.... We're not through the worst part yet," said state budget director Jennifer Davis, who met behind closed doors Monday with members of the legislature's budget-writing Joint Finance Committee.

"We've spent four months really working on '08, and we now have 13 legislative days to focus on '09," Davis explained. "We're a long way from being done."

Officials will be keeping a close eye on June's DEFAC numbers, which will take into account a variety of tax payments due early next month from corporations and other business entities.

"My hope is just that the world stays flat and doesn't erode," Davis said.

Rep. William Oberle Jr., co-chair of the Joint Finance Committee, said the bump in personal income tax revenue from last month was welcome, but he warned that it should not be seen as "the light at the end of the tunnel."

"I'm concerned that it may be the last gasp from the economy," said Oberle, R-Newark, who believes the state has yet to see the full effects of what he believes is a recession in the national economy.

Oberle and his fellow JFC co-chair, Sen. Nancy Cook, both dismissed the idea of dipping into the state's rainy day fund, which totaled more than $180 million in February. Oberle said the reserve fund is a key factor in Delaware's ability to keep its AAA bond rating.

But Cook said it is "very possible" that lawmakers will declare a budget emergency and pass a bill authorizing expenditures for next year to exceed the traditional limit of no more than 98 percent of revenue.

"We still have major, major cuts to make," added Cook, D-Kenton.