Vermont state officials say revenues coming into the state’s general fund were "generally on target" for December, but the state’s largest source of revenue, the personal income tax, showed a worrisome downward trend.
Revenues of $99.85 million for the general fund exceeded the forecast for the month – set in November – by $50,000. They were $555.7 million for the first six months of the year, $300,000 above the forecast estimate.
The personal income tax missed its target for the first six months by nearly $2 million, nearly all of the shortfall coming in December.
Meanwhile, revenues going into the state transportation fund were above their target for the month, but still lagged the forecast for the first six months.
State officials will get a fresh forecast of revenues in the coming month today when the emergency board meets to hear from consulting economists.