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VOL. 128 | NO. 246 | Wednesday, December 18, 2013

State Funding Board Makes Revenue Projections

AP

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NASHVILLE (AP) – The State Funding Board has made its revenue projections for the upcoming budget year.

Last week, the board heard from economists who estimated growth of the state's total general fund collections should range from 2.2 percent to 3.5 percent.

Based on those numbers, the board on Tuesday went with a more conservative range of 2.2 percent to 2.9 percent. The governor will select a figure within that range to construct the budget.

Finance Commissioner Larry Martin says the numbers reflect the state's sluggish economy.

Tennessee's general fund tax collections fell $22 million short of projections in November, the fourth month of the state's budget year.

Corporate franchise and excise taxes came in about $16 million short of projections, while the state's sales tax collections were $2 million less.

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 This material may not be published, broadcast, rewritten or redistributed.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 146 146 9,350
MORTGAGES 175 175 12,540
FORECLOSURE NOTICES 0 19 2,545
BUILDING PERMITS 0 73 20,874
BANKRUPTCIES 60 65 8,029
BUSINESS LICENSES 36 36 3,351
UTILITY CONNECTIONS 124 124 11,842
MARRIAGE LICENSES 32 32 2,847

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