(Host) Vermont’s fiscal year has started with revenues up almost 10% more than expected. But Administration Secretary Michael Smith says that it’s hard to make fiscal predictions for the full year based on July revenues.
(Smith) “July has not been historically a good predictor of how the rest of the year is going to go. Obviously we’re happy that we’re more than we had projected for our targets for the month, up about $6.21 million in the general fund and just over $2 million in the transportation fund and up slightly in the education fund. So although the news is good for the month, I wouldn’t say this will be a predictor of this is what’s to come in the next 11 months.”
(Host) Revenues from personal income tax and taxes on insurance premiums were higher than last year. Revenues from the rooms and meals tax and the corporate income tax were lower.