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VOL. 128 | NO. 156 | Monday, August 12, 2013

Tennessee Ends Budget Year With $42 Million Surplus

AP

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NASHVILLE (AP) – The state has finshed the budget year with a $42 million general fund surplus.

Tennessee collected $342 million more than originally projected by the State Funding Board for the 2012-2013 budget year, but the panel revised that prediction upward by $306 million in December. Collections still came out above those estimates.

Over the course of the budget year, sales taxes grew by 1.8 percent and corporate taxes increased by 9 percent.

A spokesman for Gov. Bill Haslam said there it was too early to say what the surplus would be used for.

The Republican's administration chose to bank most of the $333 million surplus the state collected last year, despite calls by Democrats to use the money to defray tuition increases or reduce the state's sales tax on groceries.

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 This material may not be published, broadcast, rewritten or redistributed.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 73 391 11,120
MORTGAGES 88 481 13,903
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 198 969 24,034
BANKRUPTCIES 54 288 8,432
BUSINESS LICENSES 29 126 3,771
UTILITY CONNECTIONS 67 536 13,457
MARRIAGE LICENSES 17 103 3,031

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