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VOL. 128 | NO. 156 | Monday, August 12, 2013

Tennessee Ends Budget Year With $42 Million Surplus

AP

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NASHVILLE (AP) – The state has finshed the budget year with a $42 million general fund surplus.

Tennessee collected $342 million more than originally projected by the State Funding Board for the 2012-2013 budget year, but the panel revised that prediction upward by $306 million in December. Collections still came out above those estimates.

Over the course of the budget year, sales taxes grew by 1.8 percent and corporate taxes increased by 9 percent.

A spokesman for Gov. Bill Haslam said there it was too early to say what the surplus would be used for.

The Republican's administration chose to bank most of the $333 million surplus the state collected last year, despite calls by Democrats to use the money to defray tuition increases or reduce the state's sales tax on groceries.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 44 13,700
MORTGAGES 0 58 17,884
FORECLOSURE NOTICES 0 28 3,533
BUILDING PERMITS 0 0 32,303
BANKRUPTCIES 0 78 13,081
BUSINESS LICENSES 0 25 4,730
UTILITY CONNECTIONS 0 121 20,021
MARRIAGE LICENSES 0 33 4,230

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