General fund revenues $16.1 million shy of fiscal 2016 targets
State revenues for the last fiscal year fell 1.1 percent shy of projections, according to the Agency of Administration.
The administration’s revenue report from June, the final month of fiscal year 2016, shows that general fund collections for the year came in $16.1 million short of the projected total of $1.43 billion.
The final revenue collections for the general fund in fiscal 2016 came in 2.3 percent ahead of the prior year.
In a statement Friday, Secretary of Administration Justin Johnson acknowledged that low tax receipts in April had a lingering impact on state coffers, but he was optimistic that the fiscal year would close out balanced.
Read more: http://vtdigger.org/2016/07/15/general-fund-revenues-16-1-million-shy-of-fiscal-2016-targets/
