APRIL REVENUESNASHVILLE - Finance and Administration Commissioner Dave Goetz reported today that overall April revenues were $1,399.6 billion or $72.2 million more than the state budgeted. On an accrual basis, April is the ninth month in the 2006-2007 fiscal year. The general fund was over collected by $57.1 million, and the four other funds were over collected by $15.1 million. Sales tax collections were $19.3 million more than the estimate for April. The April growth rate was 6.60%. For nine months revenues are under collected by $29.3 million. The year-to-date growth rate for nine months was 4.71%. Franchise and excise taxes combined were $2.3 million above the budgeted estimate of $400.3 million. For nine months revenues are over collected by $163.0 million. Hall Income tax collections for April were $39.8 million more than the estimate. For nine months collections are $43.3 million more than the estimate. The growth rate for the nine month period was 28.14%. Inheritance and estate tax collections were $2.8 million above the April estimate. For nine months collections are $21.1 million above the budgeted estimate. Gasoline and motor fuel collections for April decreased by 2.79%. For nine months revenues are over collected by $11.4 million. Year-to-date collections for nine months were $257.2 million more than the budgeted estimate. The general fund was over collected by $218.1 million and the four other funds were over collected by $39.1 million. The budgeted revenue estimates are based on the State Funding Board’s consensus recommendation adopted by the second session of the 104th General Assembly in May of 2006. |
