Fiscal Year Ends With Revenues Slightly Ahead Of Projections

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The state of Vermont ended its fiscal year at the beginning of the week.

And while the final figures are still being tabulated, Administration Secretary Jeb Spaulding said it appears that revenues will come very close to what was projected a year ago.

"We’re still dissecting and analyzing the various revenue streams," Spaulding said. "But it looks like we will probably have somewhere in the range of $3 to $5 million in unanticipated revenues – some people would call that a surplus."

Spaulding said any unanticipated revenues will be reserved to help the state pay for various Irene rebuilding projects – such as the Waterbury state office complex, and a new state hospital.

Spaulding said the forecast for the coming fiscal year that started on July 1 is currently up 5 to 6 percent – close to $70 million in additional general fund revenues.

Later in July, economists will be meeting to update the forecast, so that figure could go up or down at that time.

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