(Host) With the economy improving, Vermont took in about $20 million more in revenues than expected in the second half of 2010. And now, economic forecasters are telling the Shumlin administration and lawmakers that the state should be able to raise about $27 million more than expected for this fiscal year.
Still, the change makes a small dent in a budget gap of $150 million projected for next year. And economists Tom Kavet and Jeff Carr say much of the extra money that’s been coming in to state coffers in recent months has been in different types of one-time collections, and is not sustainable.
The news was shared Friday afternoon with the Emergency Board, a panel made up of legislative money committee chairmen, and the governor.