Vt. revenues down for June, up for year
MONTPELIER- Vermont state revenues were off for the month of June, but came in more than $26 million stronger than expected for the fiscal year that ended June 30.
That's the word from Administration Secretary Jeb Spaulding. He says June receipts were down due to higher-than-expected tax refunds both for personal and corporate income tax payers.
But Spaulding says tallying up general fund revenues for the end of the fiscal year shows the state finished FY 2013 more than 2 percent above the target set by revenue forecasters in January. That equates to $26 million.
The state transportation fund was the opposite of the general fund, performing at just above target for June but just below target for the year.