NASHVILLE – Tennessee revenue collections continued to fall short of budgeted estimates in March. Finance and Administration Commissioner Dave Goetz reported today that overall March revenues were $776.5 million, which is $11.7 million less than the state budgeted.
“This marks the 22nd consecutive negative growth month for sales tax collections out of the last 27 months, starting with January 2008,” Goetz said. “Sales tax collections seem to reflect a degree of renewed consumer confidence, but revenues continue to lag below projections. Until we see clear signs that the economy is recovering we will continue to make budget decisions based on what we’re experiencing in Tennessee.”