first_img$330.91 Montpelier, VT -Secretary of Administration Michael K. Smith Announces Vermonts JanuaryRevenue Figures General, Transportation and Education Funds Slightly AboveTarget The monthlyconsensus cash flow targets reflect the most recent fiscal year 2007 ConsensusRevenue Forecast that was agreed to by the Emergency Board on January 16, 2007. The States Consensus Revenue Forecast is updated two times per year, inJanuary and July.  FY06 YTD Secretary Smithconcluded the discussion of General Fund results by noting that, The month of Januarywas slightly above target in meeting the newest consensus revenue targets setearlier in the month.  Monthly PersonalIncome Tax receipts, which are by far the largest single state revenue source, arereported Net-of-Personal Income Tax refunds. Personal Income Tax revenue was below target in January with $79.16million in revenue or -$1.29 million below the monthly revenue target.  The Corporate Income Tax (-$0.67 million or-30.9%) also finished January below projections for the month.  The Property Transfer (+$0.15 million or +13.5%)and the Estate Tax (+$0.91 million or +65.9%) both surpassed revenue targetsfor January. Tax Component Secretary Smithnoted that the Rooms & Meals Tax was slightly above target for January, with$10.60 million in revenue to the General Fund, or +$0.15 million more than therevenue target.  Receipts in the Sales& Use Tax category were slightly below projections in January, contributing$28.26 million, or -$0.20 million below the revised revenue target.  GeneralFund General Fund By Major Element (In Millions)center_img January-06 FY07 YTD % Change Personal Income State of Vermont Timothy McQuiston 4 26 2007-02-07T15:25:00Z 2007-02-06T22:58:00Z 2007-02-08T22:07:00Z 1 948 5406 BGS 45 12 6342 10.2625 Print MicrosoftInternetExplorer4st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”;}February 7, 2007 % Change Secretary ofAdministration Michael K. Smith today released General Fund revenue results forthe month of January, the seventh month of fiscal year 2007.  General Fund revenues totaled $133.19 millionfor January 2007, +$1.28 million or +1.0 % above the $131.92 million consensusrevenue forecast for the month.  We finishedthe seventh month of fiscal year 2007 slightly above the new consensus revenue targetset at the January Emergency Board meeting. The General Fund cumulative results continue just above target, with thecumulative General Fund revenue at the end of January at $659.55 million, whichis +$1.28 million (+0.2%) above the General Fund cumulative revenue forecast,said Smith. January-07last_img read more