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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 This material may not be published, broadcast, rewritten or redistributed.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 72 206 16,619
MORTGAGES 84 228 21,660
FORECLOSURE NOTICES 21 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 73 222 15,764
BUSINESS LICENSES 23 51 5,542
UTILITY CONNECTIONS 86 287 23,860
MARRIAGE LICENSES 21 72 5,107

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