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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 This material may not be published, broadcast, rewritten or redistributed.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 96 96 12,993
MORTGAGES 132 132 16,890
FORECLOSURE NOTICES 21 21 3,322
BUILDING PERMITS 0 0 30,564
BANKRUPTCIES 66 66 12,409
BUSINESS LICENSES 20 20 4,509
UTILITY CONNECTIONS 146 146 19,039
MARRIAGE LICENSES 35 35 3,944

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