Vt. revenues on target in 2014 fiscal year

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MONTPELIER (AP) -- Vermont state government revenues ended the fiscal year almost on the forecast target, Administration Secretary Jeb Spaulding said Wednesday.

The 2014 general fund revenues came in at $2.4 million ahead of the forecast, or almost 0.2 percent ahead of the target, for the fiscal year that ended June 30.

The transportation fund was about $1.5 million or 0.06 percent below expectations and the education fund was $3.1 million or 1.75 percent below projections.

All three funds were well ahead of 2013 revenue figures.

"It appears that our revenue forecasters practically hit the nail on the head, in terms of projections for the fiscal year," Spaulding said in a statement. "That’s pretty amazing given all of the components in our tax mix, and the complex interaction between our strengthening state economy and the broader national and international economies."

He said the figures are a good economic indicator.

But Spaulding said economists would be analyzing state, national and global indicators leading up to revenue forecasts later this month. The state will be prepared if the economists should recommend a downgrade of projected revenues.


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