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.

Read More

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.

Read More

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.

Read More

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.

Read More

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.

Read More

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,…

Read More

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.

Read More

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…

Read More

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…

Read More