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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 This material may not be published, broadcast, rewritten or redistributed.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 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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