June 18, 2012
Secretary of Administration Jeb Spaulding Announces Vermont’s Revenue Results for May 2012: General, Transportation and Education Funds Above Target for the Month.
Today, Secretary of Administration Jeb Spaulding released the May 2012 General Fund (GF) revenue results. May is the eleventh month of fiscal year (FY) 2012. General Fund revenues totaled $68.24 million for May 2012, and were +$6.12 million or +9.85 above the $62.12 million consensus revenue forecast for the month. Year to date, General Fund revenues were $1,085.88 million, and +$10.01 million or +0.93 above the target of $1,075.87 million for FY 2012. The FY 2012 results through May also exceed the same period for the prior fiscal year (FY 2011) by 3.01.
Results for May were favorable by a total of +$9.20 million in six (6) of the eight (8) General Fund revenue components. The remaining two (2) components, Net Corporate Income Tax and Inheritance & Estate Tax, fell below the monthly target by -$2.38 million and -$0.70 million, respectively.
“The 4th quarter results to date have been trending up after a negative 3rd quarter. With only one month to go in the current fiscal year (FY 2012) we are approximately 1 ($10.01 Million) above the target through May. These year to date results also exceed the prior year for the same period. We remain well positioned to meet or exceed the General Fund revenue target for fiscal year 2012,” explained Secretary Spaulding.
Source: Office of the Governor
Last Updated at: June 18, 2012 08:59:05