Tag: 苏州中茵皇冠假日

Vermont tax revenues exceed targets for GF, Transpo and Education

first_imgVermont tax revenues exceeded their adjusted targets in September in the three major categories and in nearly all sub-categories. The most promising of which was the personal income tax, which was down in August. The fiscal year-to-date numbers also exceeded targets, but more modestly. The General Fund was up 5.09 percent in September and 2.37 percent YTD ($263 million). Of this, personal income, by far the single largest component, was up .57 percent YTD ($129.85 million total). The Transportation Fund was up 3.87 percent YTD ($55.05 million total), with all components exceeding targets. And the Education Fund was ahead .52 percent YTD ($36.09 total). The most notable component that failed to exceed its YTD target was the sales and use tax, which came in below target by .18 percent YTD ($51.32 million total). However, its September number did exceed its target by .14 percent.The September General Fund Revenues were released by Secretary of Administration Neale F Lunderville on Friday. September marks the end of the first quarter of FY 2010. General Fund revenues totaled $105.64 million for September 2009, +$5.09 million or +5.06% above the $100.55 million consensus revenue forecast for the month. Year to date, General Fund revenues of $263.00 million were +$6.09 million and +2.37% above the year to date FY 2010 target.The monthly targets reflect the recently revised Fiscal Year 2010 Consensus Revenue Forecast that was adjusted downward by the Emergency Board on July 16, 2009. The State s Consensus Revenue Forecast is normally updated two times per year in January and July. However, with the continuation of this recession, the Emergency Board has been scheduling interim quarterly revenue reviews. The next consensus forecast is scheduled to be reviewed by the Emergency Board on November 12, 2009.Personal Income Tax receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for September were $52.65 million, +$0.32 million or +0.61% ahead of the monthly target. Sales & Use Tax, at $16.69 million was +$0.02 million or +0.14% above target. Rooms & Meals Tax was $12.64 million, +$1.06 million or +9.13% above target for September. The largest favorable result was in Corporate Income Tax receipts, which are also reported net-of refunds. Corporate Tax receipts for September were $12.43 million or +$2.90 million (+30.36%) above the target for the month. However, as the September Corporate increase is based on estimated taxes, we will not know if the above target results are subject to refund until the actual tax returns are filed. The year to date results for the four major General Fund categories are as follows: Personal Income Tax, $129.85 million (+0.57%); Sales & Use Tax, $51.32 million (-0.18%); Corporate, $14.64 million (+21.87%); and Meals & Rooms, $33.05 million (+4.34%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and Other (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). Results for the month of September were as follows: Insurance Tax, $0.71 million (-39.51%); Estate Tax, $2.51 million (+96.43%); Property Transfer Tax, $0.81 million (+21.44%); and other, $7.21 million (-1.66%). Year to date results for these categories were: Insurance Tax, $8.41 million (+7.87%); Estate Tax, $4.94 million (+43.32%); Property Transfer Tax, $2.16 million (+12.74%); and Other, $18.63 million (-4.61%).Transportation FundSecretary Lunderville also reported on the results for the non-dedicated Transportation Fund Revenue, revenue of $20.16 million for the month or +$1.67 million (+9.05%), above the monthly target for September. The year to date non-dedicated Transportation revenue was $55.05 million versus the target of $53.00 million (+$2.05 million, +3.87%).Revenue from the Gasoline Tax, Diesel Tax, Motor Vehicle Purchase & Use Tax, Motor Vehicle Fees, and Other were all above the September monthly target. The Transportation Fund revenue results for September were: Gasoline, $5.75 million or +0.36% above target; Diesel Tax, $2.01 million or +68.81% above target; Motor Vehicle Purchase & Use Tax, $4.64 million or +9.09% above target; Motor Vehicle Fees, $5.94 million or +0.87% above target; and Other Fees, $1.83 million or +27.62% above the monthly target. Looking at the national vehicle sales for September, we see that the number of units sold has fallen back to the rate of sales that existed before the Cash for Clunkers program . We are not yet certain that the increased number of vehicles sold in July and August were in fact additional sales or merely a compression of sales that would have occurred over the next several months anyway, said Secretary Lunderville.The September year to date Transportation Fund revenue results were: Gasoline, $16.57 million or +3.11% above target; Diesel Tax, $3.95 million or +31.07% above target; Motor Vehicle Purchase & Use Tax, $12.07 million or +4.52% above target; Motor Vehicle Fees, $17.70 million or +0.01% above target; and Other Fees, $4.75 million or +1.88% above target.Secretary Lunderville also reported on the results for the Transportation Infrastructure Bond Fund ( TIB ) (see Act 50 of the 2009 session). Receipts in the TIB Fund are generated by a motor fuel (gas and diesel) assessment on distributors. The TIB Fund receipts are dedicated first to pay principal, interest and related costs on any Transportation Infrastructure Bonds. After payment of the related bond costs, any remaining TIB monies may be used to fund qualifying Transportation capital projects. These potential remaining monies could be used to offset any unforeseen non-dedicated Transportation Fund Revenue shortfalls. TIB Fund receipts for September were $1.06 million or -15.23%; year to date, TIB Fund receipts were $3.12 million or -12.17%. The TIB Fund receipts are noted at the bottom of the following table:Education FundSecretary Lunderville released revenue results for the the non-Property Tax Education Fund revenues (which constitute approximately 11% of the total Education Fund sources). Education Fund receipts for September totaled $12.59 million, or +$0.33 million (+2.66%) above the $18.49 million consensus revenue target for the month.The individual Education Fund revenue component results for September were: Sales & Use Tax, $8.34 or +0.14%; Motor Vehicle Purchase & Use Tax, $2.32 million or +9.09%; Lottery Transfer, $1.90 million or +4.61%; and Education Fund Interest, $0.02 million or -279.57%. Year-to-date results were: Sales & Use Tax, $25.66 or -0.18%; Motor Vehicle Purchase & Use Tax, $6.04 million or +4.52%; Lottery Transfer, $4.37 million or -1.43%; and Education Fund Interest, $0.02 million or -305.37%. We are hopeful that our current consensus revenue forecast appears to be holding up, commented Secretary Lunderville. Although September s numbers were better than expected, it is important to remember these revenues are compared against significantly downgraded expectations. The economists continue to remind us that even when the recession is over it will take many years to regain the jobs and revenue lost during this downturn.Lunderville concluded: As I ve noted before, with a projected budget shortfall of over $200 million over the next two fiscal years, our budget situation remains very difficult. For FY 2010, the general fund receipts are $31.0 million or 10.6% below the same period for FY 2009, and 3.4% below the same period for FY 2006.Source: Administration office. 10.16.2009last_img read more

Steckman calls for oversight hearing of Test Iowa program

first_imgMASON CITY — A north-central Iowa state representative is asking legislative leaders to review the performance of the Test Iowa program. The state entered into a no-bid, $26 million contract with Nomi Health of Utah to provide expanded testing for the state.Mason City Democrat Sharon Steckman is asking that the legislature’s Government Oversight Committee be convened to look into the testing program. “The week of May 11th, Test Iowa processed 3100 tests for the entire week. We were promised 3000 a day, and it’s been three weeks, and we’re not even getting close to that goal.”Steckman wonders who Test Iowa is answering to and why there isn’t oversight when we’ve seen large outbreaks of COVID-19 at some of the state’s meatpacking plants.  “Especially since the White House said Des Moines was one of ten hotspots in the nation for COVID-19, and Iowa’s ranked 14th highest of 50 states. Environmental Working Group came out with a study they published yesterday that Iowa meatpacking plants rank number one in the nation for infections, and if you’re a county that has one near you, your rate for COVID is almost twice that of what the national average is.”Governor Reynolds announced on Thursday that the State Hygienic Lab had validated the machines used for the Test Iowa program and they expect more tests will be processed quickly and results will be delivered on a more timely basis. Steckman says despite that, more oversight needs to take place.  “It’s $26 million of taxpayers money. Whether it’s federal or state, someone should be watching over that money. I know when they came to Black Hawk County, they used personnel in Black Hawk County, the National Guard also was helping, but they had to pull folks away, nurses and that, away from other things to implement the program. I just think it needs more scrutiny. Any time you have that much money, there’s always the chance for things to not go like you’d like them to.”Steckman made the oversight request during Thursday’s meeting of the Legislative Council. House Speaker Pat Grassley said he would not rule out the request but he had not had any conversations about it with the chair of the oversight committee.last_img read more