Secretary of Administration Susanne Young Releases Vermont's Revenue Results for January 2019 (Feb. 2019)

On January 22 2019 the Emergency Board met and approved a new consensus revenue forecast as presented by the State and Legislative economists. The consensus forecast was updated with new monthly and cumulative targets that were used to evaluate January receipts and will be used as the measure through the rest of the fiscal year.

Secretary of Administration Susanne Young released January FY 2019 revenue results for the General Fund Transportation Fund and Education Fund on February 15 2019.  Revenue activity for the month of January was ahead of target for the G-Fund and virtually on-target for the T-Fund and E-Fund.  Net receipts amounts for the G-Fund were primarily influenced by receipts activity in Personal Income Tax and by better than expected receipts activity in the Corporate Income Tax component.  In the T-Fund receipts activity for all components except for the “Other Fees” component were slightly ahead of target.  The E-Fund finished January slightly below target due to Sales & Use Tax receipts activity which may be reflecting still lagging payment on liabilities from new e-commerce payers.