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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 This material may not be published, broadcast, rewritten or redistributed.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 79 146 10,368
MORTGAGES 95 202 13,529
FORECLOSURE NOTICES 19 43 2,687
BUILDING PERMITS 0 393 24,700
BANKRUPTCIES 62 122 10,014
BUSINESS LICENSES 21 37 3,773
UTILITY CONNECTIONS 99 248 14,805
MARRIAGE LICENSES 27 58 3,225

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