Latest Report Shows Continued Budget Surplus for Connecticut Leaders

Officials in Connecticut have even more funds to use than originally expected, according to a new Consensus Revenue Forecast from the Office of Policy and Management.

The report projects more than $22 billion in General Fund revenue, a stark increase from estimated funds with the budget passed last year.

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

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.

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Tennessee Revenues for February $212 Million More Than Budgeted

Tennessee tax revenues for February of $1.2 billion exceeded the budgeted estimate of $1.03 billion by $212 million or 20.6 percent, Commissioner of the Department Finance and Administration Butch Eley announced Friday.

February 2022 revenues were also $111.7 million more than what the state received in taxes in February 2021, reflecting a growth rate of nearly 10 percent.

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Knox County Mayor Glenn Jacobs Talks State Budget Bump and Fighting Mask Mandates

Glenn Jacobs

Tuesday morning on The Tennessee Star Report, host Leahy welcomed Mayor Glenn Jacobs of Knox County to the newsmakers line to talk about this continued fight against mandatory mask mandates in schools and the new state budget.

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Wisconsin Governor Tony Evers Proposes Payments to Wisconsin Residents Via Surplus Funds

Tony Evers

Wisconsin Governor Tony Evers on Thursday released his plan to spend the 2.9 billion surplus the state has due to increased tax revenue and federal coronavirus relief funds.

The Democrat takes $1.7 billion to distribute directly to residents of the state through $150 payments. Furthermore, $131.8 million will grant tax breaks to certain caregivers and families.

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

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.

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Report: Tennessee One of 11 States with Financial Surplus

Sheila Weinberg

Tennessee continued its trend of growing a financial surplus as the state ranked sixth nationally for its fiscal health, according to Truth in Accounting’s annual Financial State of the States report.

Using numbers that included data from the fiscal year that ended in June 2020, Tennessee had $8.7 billion more than it owed in obligations, amounting to a $4,400 surplus per taxpayer and earning a grade of B in the report, which was released Tuesday.

The state had a $3,400 surplus per taxpayer the year before.

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

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.

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Tennessee’s Revenues for May $1.6 Billion, $432 Million More Than Budgeted

Tennessee Department of Finance and Administration Commissioner Butch Eley announced Thursday that the state’s revenues for May were $1.6 billion or $432 million more than the budgeted monthly revenue.

Revenues for the ten-month period put the surplus at $2.4 billion for the 2020-2021 fiscal year.

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

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.

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

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.

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

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.

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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 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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Tennessee State Revenue Report Shows Surplus of $138.8 Million in September

  The report of Tennessee state revenues for September at $1.6 billion resulted in a budget surplus of $138.8 million. Revenue for the month of September 2019, as indicated in the report, is $138.7 million more than September 2018, reflecting a 9.75 percent year-over-year growth rate. On an accrual basis,…

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Tennessee Has Surplus Revenue of $28.8 Million in August, First Month of 2020 Fiscal Year and Governor Bill Lee’s Budget

Commissioner of the Department of Finance Administration, Stuart McWhorter, reported last week that Tennessee revenues for August were $28.8 million more than the budgeted estimates.

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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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Steve Gill Commentary: The City of Newbern Shows How to Manage A Surplus

  Commentary by Steve Gill With $2 billion in surplus and recurring revenue at their disposal this past fiscal year the Tennessee legislature jammed through a $300 million tax increase on fuel that provides a windfall to their road contractor and lobbyist buddies. This is the same Republican super-majority that…

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