The State’s General Fund, Transportation Fund, and Education Fund receipts for November were a combined $219.8 million, missing the $225.8 million monthly consensus target by -$6.0 million, or -2.7%. Year-to-date combined receipts are $19.2 million, 1.6%, above their $1,231.7 million target, Administration Secretary Kristin Clouser reported Thursday, December 21.
General Fund revenues for November totaled $138.8 million, -$7.0 million, or -4.8%, below the $145.8 million monthly consensus cash flow target. Corporate Income Tax receipts, Health Care Taxes, Meals and Rooms Taxes, Insurance Taxes, Liquor Taxes and the net Other receipts category surpassed their combined targets by $3.0 million. These positive gains were offset by a combined -$9.9-million-dollar underperformance by the Personal Income Tax, Estate Tax and net Property Transfer Tax. Year-to-date receipts are $24.5 million, 3.1%, above their $791.2 million target.
Revenues in the Transportation Fund missed their $22.1 million November consensus target by -$2.1 million, or -9.6%, yielding only $20.0 million. None of the individual revenue categories achieved their consensus monthly targets except for a marginal $0.2 million positive performance by the Other Fees category. Year-to-date receipts are -$7.0 million, -5.6%, below their $125.4 million target.
Monthly Education Fund revenues of $60.9 million were $3.1 million, 5.3%, above their November $57.9 million cash flow target. The $3.8 million of combined receipts from the Sales & Use Tax, Meals and Rooms Tax, Lottery Transfer and Interest Earnings above their respective targets were offset by a -$0.7 million underperformance by the Motor Vehicle Purchase and Use Tax. Year-to-date receipts are $1.7 million, 0.6%, above their $315.1 million target.
According to Clouser: “The General Fund remains above yearly consensus targets in the face of multiple economic uncertainties; however, whether its current revenue surplus will carry through to year end or be consumed by a downturn during the second half of the year, remains to be seen.”
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Categories: State Government
Projected 18.5% property tax increase driven by increased school spending, Scott admin says – https://vermontdailychronicle.com/projected-18-5-property-tax-increase-driven-by-increased-school-spending-scott-admin-says/
…while ‘Education revenue up’,????
Go figure.
Ooops. I guess they can’t ‘go figure’ – because they never learned to read, write or do arithmetic in school in the first place.
You can’t make this stuff up.
inflated costs of goods result in higher sales tax income///any questions///
The inflated costs of goods and services also cause decreased sales activity. On the other hand, education funding, the primary source of education funding, Vermont’s Property Tax, is immune to these economic cycles. Property Tax will be the State’s last bastion of income as discretionary spending, commerce, and commensurate tax revenues decline. So, when you run out of money, they’ll try to take your home.
They report the November receipts, now let’s have the details of the expenditures. Where is it all going, to whom, and for what? In a few weeks, the well dressed beggars will convene saying they have to raise taxes and fees due to “uncertain” economic times, climate change, social services, and disaster recovery. The real disaster is yet to be realized, but they’ll turn over every couch cushion and seize every loose nickel, nonetheless.
Melissa, you are correct. But we must understand that the Vermont Agency of Education has as many employees as there are public school students in the entire State. And that doesn’t include NGOs, subcontractors, and other hangers on. It is their livelihoods at stake. Their myopic vision prevents them from considering your livelihood. They are, in fact, doomed, even as the parasites they are – because they don’t realize they are killing their host.
I believe they know exactly what they’re doing – dancing on the head of a pin attached to a grenade. They have two choices, turn from their wicked scheming ways or reap what they sow. The hour of decision is now. We are in a war as the casualties and costs continue to mount. Seeing them go down in flames or redeem themselves is going to be quite interesting to say the least. God wins!
Merry Christmas!
you will own nothing and you will be happy///