Vermont’s Revenue Results for March 2012

Secretary of Administration Jeb Spaulding Announces Vermont’s Revenue Results for March 2012: General Fund and Education Fund Above Target; Transportation Fund Below Target for the Month.

General Fund

Secretary of Administration Jeb Spaulding released the March 2012 General Fund (GF) revenue results today. March is the ninth month of fiscal year (FY) 2012. General Fund revenues totaled $87.49 million for March 2012, and were +$7.45 million or +9.30 above the $80.04 million consensus revenue forecast for the month. Year to date, General Fund revenues were $838.12 million, and -$6.71 million or -0.79 short of the target of $844.82 million for FY 2012. The FY 2012 results through March remain ahead of the same period for the prior fiscal year (FY 2011) by 2.76.

“We are pleased that, after three consecutive below target months for the General Fund, March was a positive one. The nearly $7.5 million in above target revenues covered about half of our $14.2 million shortfall for the fiscal year to date. We remain -$6.7 million behind target with only one quarter remaining in which to make up ground, but we are trending in a positive direction and General Fund revenues through three quarters of the fiscal year are 2.8 ahead of where they were at this point last year,” explained Secretary Spaulding.