May FY 2019 Revenue Receipts Web-Summary (June 2019)

On June 19 2019 Secretary of Administration Susanne Young announced revenue results for the State of Vermont for May of fiscal year 2019.  Revenue receipts in the General Fund were essentially on target for the month of May and remained significantly above target for the fiscal year through May 31^st.  Revenues in the Transportation Fund performed above their monthly target for May but remained slightly below its cumulative through May consensus cash flow target.  Collections in the Education Fund were slightly below monthly and annual consensus cash flow targets through the eleventh month of the 2019 fiscal year.  The Secretary said that “...General Fund receipts were on track for a substantial revenue surplus” for fiscal year 2019 as a whole.  She noted the surplus has been appropriated to: (1) replenish the reserves at the Agency of Human Services (2) increase the balance in the State’s “Rainy Day Fund” for the General Fund and (3) build the balance of the State Employees Health Benefits Trust Fund.  The Secretary further noted that those actions as passed under House Bill 542 “...will result in another step forward on the path of paying down the State\'s unfunded liabilities.\""