State revenues expected to drop

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State revenues for fiscal year 2009 are expected to be lower than earlier projections. That means more challenges for budget writers and perhaps those who rely on state services.

The projections will be presented to a state finance panel today.

Administration Secretary Michael Smith says he expects a downgrade in revenue projections for all three major funds.

But he says Vermont is better off than many other states. He says about 23 states could be facing deficits.

The news is not encouraging for legislative budget committees and the governor. Gas tax receipts have been weak and the state’s Transportation Fund has struggled. In fiscal year 2009, the Education Fund and the General Fund also are expected to fall short of earlier projections.


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