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

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.

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Tennessee Revenues for July Exceed Budget Estimate by $667.1 Million

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.

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

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.

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Tennessee Revenues for March Exceeded Budget by $62.1 Million

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.

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Tennessee’s January Revenue Collections Result in $129.4 Million Surplus

The state’s revenue collections for the month of January remained strong, resulting in a $129.4 surplus over the budgeted estimate of $1.55 billion, Tennessee Department of Finance and Administration Commissioner Stuart McWhorter reported Friday.

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Tennessee State Revenues for October Exceed Budgeted Estimates for a $50 Million Surplus

In a news release Friday, the Commissioner of Finance and Administration Stuart McWhorter announced that the state’s revenues for October exceeded budgeted estimates, resulting in a $49.8 million surplus for the month.

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State Revenues in Month of May Exceed Budget By $53.1 Million; Year-To-Date Surplus Now at $677 Million

Department of Finance and Administration Commissioner Larry Martin reported this week that May revenues exceeded the month’s budget of $1 billion by $53.1 million.  That makes nine out of ten months in the 2016-17 accrual year where collections exceeded the budget and the prior year’s collections. Year-to-date over collection of taxes…

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