Vermont’s general fund revenues for July were stronger than they were last year, but a little less than anticipated.
The Shumlin administration says the $92 million raised last month was six percent better than a year ago.
But economists had predicted the total collections would be just a little bit higher than that, and that’s what the budget was based on.
Administration Secretary Jeb Spaulding says he’s not concerned about the results. He says July revenues frequently are volatile. He also says that the month is the first of the fiscal year, so it’s difficult to predict how an entire year will turn out. He says reliable trends will emerge in coming months.
There were similar results in both the transportation and education funds, which also fell short of their revenue targets for the month.