Blountville
67° F
Scattered Clouds
Scattered Clouds
Greeneville
67° F
Scattered Clouds
Scattered Clouds
Abingdon
69° F
Clear
Clear
Advertisement

Tennessee May revenues came in higher than expected

Published On: Jun 11 2013 10:51:55 PM EDT   Updated On: Jun 11 2013 12:28:55 PM EDT
NASHVILLE, Tenn. -

The Volunteer State saw a budget surplus last month.

The State Finance Commissioner says May revenues were more than $31 million more than the state expected.

Commissioner Larry Martin says the sales tax growth rate rebounded last month, mainly because of the sale of building materials and the sale of new automobiles.

Martin says sales tax collections were $11.2 million above the budgeted estimate and the franchise and excise taxes were $8.8 million more than budgeted.

The general fund went over budget by $35.3 million.