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VOL. 128 | NO. 220 | Monday, November 11, 2013

Tennessee Quarterly Revenues $97 Million Below Projections

AP

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NASHVILLE (AP) – Tennessee's general fund revenues fell $97 million short of projections in the first quarter of the state's budget year.

Corporate franchise and excise tax collections came in at $352 million, or $87 million below the budgeted estimate, and a 14 percent drop from the same year-ago period.

Sales tax collections were $1.77 billion in the quarter, missing projections by about 1 percent. But sales tax revenues posted a 3.4 percent growth compared with the first quarter of last year.

The state's sluggish revenue figures come as Republican Gov. Bill Haslam prepares to assemble his annual spending plan before the General Assembly convenes in January.

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 This material may not be published, broadcast, rewritten or redistributed.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 89 242 14,959
MORTGAGES 111 255 19,585
FORECLOSURE NOTICES 21 43 3,838
BUILDING PERMITS 153 512 35,842
BANKRUPTCIES 61 182 14,216
BUSINESS LICENSES 18 104 5,095
UTILITY CONNECTIONS 76 246 21,679
MARRIAGE LICENSES 16 75 4,632

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