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VOL. 110 | NO. 144 | Friday, July 26, 1996

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State tax collections were almost $508 million in June, a 6 State tax collections were almost $508 million in June, a 6.7 percent increase over June 1995. Revenue estimates were revised in April to recognize year-to-date undercollections through March. Actual collections in April and May were less than the revised estimates. General fund revenue collections in June were $12.4 million greater than the final revised estimates. Franchise and excise taxes combined were $39.1 million, a 5.93 percent increase from June 1995 but almost $100,000 less than revised estimates. The year-to-date undercollection was $25.7 million. Highway user taxes were $4.8 million below estimates for the month which leaves the highway fund with a $6.6 million undercollection year-to-date, said finance and administration commissioner John Ferguson. Year-to-date collections for all funds are $20.3 million less than the final revised estimates. For the general fund, the undercollection is $12.5 million. Ferguson said Junes collection reduced the projected general fund shortfall this year to $35 million. Although franchise and excise tax collections improved in June, Ferguson said he was concerned about the rate of franchise and excise tax growth and its impact on the 1996-1997 budget estimates. The Memphis Job Service Employer committee will meet Aug. 6 at 5:30 p.m. at the Holiday Inn, 6101 Shelby Oaks Drive. Maeola Killebrew, administrative director of the office of job training at State Technical Institute, will be the guest speaker. Her topic will be the Families First program. For reservations, call Helen Cooley at 423-5860 by Aug. 5. Local Republicans will sponsor a rally to support their general election candidates on Monday at 5 p.m. at Friends Eatery, 5099 Old Summer Road. Candidates Harold Sterling, Chris Turner, Karen Williams and Herbert Lane will speak at the rally. The Republican Party of Shelby County also will sponsor an election night party on Aug. 1 at 7 p.m. at Hunans Restaurant, 911 Estate Drive. For more information, call 682-3335 or 682-3336.
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047
FORECLOSURE NOTICES 20 39 190
BUILDING PERMITS 0 305 3,056
BANKRUPTCIES 17 135 753
BUSINESS LICENSES 0 53 329
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0