State revenues ‘disappointing’ in March

The Associated Press

MONTPELIER — A top Vermont official is calling the state’s revenues for March “disappointing.”

Administration Secretary Jeb Spaulding says state revenue figures for the general fund, transportation and education funds were all below expectations in April.

Spaulding says that despite last month’s lower-than-expected revenues, for the fiscal year that began in July, the state has taken in almost 6 percent more than last year.

In figures released Thursday, Spaulding said the general fund revenues were 3.2 percent less than expected. The transportation fund was off 7.4 percent and the education fund was short 3.3 percent.

Spaulding says the general fund shortage could be made up with a strong April, but it’s unlikely the state will be able to make up the shortfalls in the transportation fund.

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