Commissioner Butch Eley Archives

Tennessee Revenues for March $348.8 Million More than Budgeted, Annual Surplus Hits $2.5 Billion

April 16, 2022April 15, 2022 Laura Baigert

Tennessee tax revenues for the month of March exceeded budgeted estimates by $348.8 million, putting the fiscal year surplus at $2.5 billion, reported Department of Finance and Administration Commissioner Butch Eley in a statement Thursday.

March tax revenues totaling $1.6 billion were $286.8 million or 22.78 percent higher than the state received in March 2021.

Tennessee’s October Revenues of $1.4 Billion Result in a $256 Million Budget Surplus

November 16, 2021November 15, 2021 Laura Baigert

The state’s revenues for October of $1.4 billion exceeded budgeted estimates for the month by $256.2 million, Tennessee Department of Finance and Administration Commissioner Butch Eley announced Friday.

This October’s revenues exceeded last October’s by $238.9 million, representing a 20.52 percent growth rate year-over-year.

Tennessee’s June Revenues $372 Million over Budget for a $2.8 Billion Surplus

July 16, 2021July 15, 2021 Laura Baigert

Tennessee’s revenues for the month of June exceeded the budget by $372.3 million, putting the year-to-date surplus at $2.8 billion, Commissioner of the Tennessee Department of Finance and Administration Butch Eley announced Thursday.

State taxes for June 2021, which is the eleventh month of the current fiscal year, were $321.1 million more than June 2020.

Tennessee’s Revenues in April Push Budget Surplus to over $2 Billion with Three Months Remaining in the Fiscal Year

May 15, 2021June 9, 2021 Laura Baigert

Higher than expected revenues for the month of April resulted in the state’s budget surplus exceeding $2 billion with three months remaining in the 2020-2021 fiscal year.

Commissioner of Tennessee’s Department of Finance and Administration Butch Eley made the announcement Friday that April revenues of $2.5 billion resulted in a $596.7 million surplus for the month of April 2021.

State Revenues in February Exceeded the Budget by $191 Million, Puts Fiscal Year Surplus at $1.3 Billion

March 13, 2021June 9, 2021 Laura Baigert

Commissioner of the Tennessee Department of Finance and Administration Butch Eley announced Friday that tax revenues to the state for the month of February exceeded the budgeted estimates by $190.9 million, which puts the fiscal year surplus at $1.3 billion.

February revenues of $1.13 billion represent an 11.06 percent growth rate or $112.7 million more than February of last year.

Tennessee’s December Revenues Yield a $156.4 Million Surplus

January 12, 2021June 9, 2021 Laura Baigert

The state’s revenue collections for the month of December were higher than budgeted yielding a $156.4 million surplus, Tennessee Department of Finance and Administration Commissioner Butch Eley announced Monday.

On an accrual basis, December marks the fifth month of the 2021-2022 fiscal year.

Tennessee’s Year-to-Date Budget Surplus is Up to $447 Million

November 23, 2020June 9, 2021 Laura Baigert

Three months into the 2020-2021 fiscal year, Tennessee’s actual revenues have exceeded the budget to create a $447 million surplus.

The surplus represents revenues that are 13 percent over and above the budgeted revenues through October and the fourth month in a row of budget surpluses.

State Revenues $115.1 Million More than Budgeted for First Month of Fiscal Year 2021-2022

September 15, 2020September 14, 2020 Laura Baigert

Tennessee revenues exceeded budgeted estimates for the first month of the state’s 2021-2022 fiscal year by $115.1 million, Department of Finance and Administration Commissioner Butch Eley reported Monday.

Total state revenues for August, the first month of the fiscal year on an accrual basis, were $1.16 billion, which is $22 million more than August 2019 and 11 percent more than the budgeted estimate for the month.

Tennessee Revenues for July Exceed Budget Estimate by $667.1 Million

August 17, 2020August 16, 2020 Laura Baigert

Tennessee tax revenues for the month of July exceeded the budgeted estimate by $667.1 million, Tennessee Department of Finance and Administration Commissioner Butch Eley announced Thursday.

Overall revenues of $1.86 billion in July were $689.4 million more than state revenues in July 2019.

The higher-than-expected revenues for July has the state finishing the 2019-2020 fiscal year in a surplus position of $369.2 million against the budgeted estimate and 2.42 percent above last year, despite the impacts of the COVID-19 economic slowdown.

Tennessee’s May Revenues Nearly 16 Percent Less Than May 2019 Due to COVID-19 Pandemic

June 9, 2020June 8, 2020 Laura Baigert

The May revenues announced by Tennessee Department of Finance and Administration Commissioner Butch Eley Monday showed a negative growth rate of 15.83 percent compared to a year ago.

The state’s revenues of $981.9 million were $197.3 million less than budgeted and $184.7 million less than May 2019, according to the department’s news release.

Tennessee Revenues for March Exceeded Budget by $62.1 Million

April 21, 2020April 20, 2020 Laura Baigert

Commissioner of Finance and Administration Butch Eley announced Monday that the Tennessee’s tax revenues exceeded budgeted estimates for the month of March by $62.1 million, despite the anticipated impact of the coronavirus.

Eley was named to the new post by Governor Bill Lee on April 15, while also serving as the Chief Operating Officer for the state. Prior to joining Governor Lee’s administration, he was a founder and CEO of Infrastructure Corporation of America, an infrastructure asset maintenance management company and a partner at the Ingram Group.