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New England News
Wed May 16, 2012
VT State Revenues Above Target, Surplus Possible
Vermont's top fiscal officer says the state's General Fund took in $10.6 million more than expected last month, making it possible for the state to end the fiscal year with a surplus. WAMC’s North Country Bureau Chief Pat Bradley reports…
Administration Secretary Jeb Spaulding said general fund revenues were 6.3 percent ahead of expectations.
So far this fiscal year, general fund revenues are four-tenths of one percent ahead of expectations.
Spaulding says the results were largely because of strong corporate income tax filings.
Spaulding also says Education Fund revenues were about 3.6 percent above forecasts while the transportation fund was down about 4 percent.
He says the General Fund receipts means the state is poised to meet or exceed forecasts for the fiscal year, which ends June 30.
I’m Pat Bradley, WAMC News.
Copyright 2012 The Associated Press. All Rights Reserved.