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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 This material may not be published, broadcast, rewritten or redistributed.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 83 83 4,845
MORTGAGES 113 113 6,753
FORECLOSURE NOTICES 20 20 1,495
BUILDING PERMITS 205 205 11,499
BANKRUPTCIES 71 71 4,596
BUSINESS LICENSES 28 28 2,011
UTILITY CONNECTIONS 103 103 6,356
MARRIAGE LICENSES 34 34 1,407

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