01.24.2020
On January 24 2020 Secretary of Administration released December 2019 revenue results for the month of December and the first half of fiscal year 2020 for the State of Vermont. As expected receipts in the General Fund bounced back somewhat from the previous month’s end of the month calendar issue with the Thanksgiving holiday. Secretary Young stated: “General Fund receipts were $5.11 million or 3.85% above the consensus cash flow target for the month. The Education Fund was also above expectations while the Transportation Fund revenues were below forecast.”
The Secretary further elaborated “…While we are generally pleased with the overall performance of revenues relative to forecast despite the revenue upgrade the Governor’s proposed FY21 budget required difficult decisions with reductions in appropriations to agencies departments programs and services…The Administration will continue to focus on meeting the State’s demographics challenge to draw more people to Vermont and into our workforce. We need to continue to make investments that grow our economy and our tax base” Secretary Young concluded.
