Tennessee Revenue Collections in March

Tennessee revenue collections continued to fall short of budgeted estimates in March. Finance and Administration Commissioner Dave Goetz reported today that overall March revenues were $776.5 million, which is $11.7 million less than the state budgeted.

“This marks the 22nd consecutive negative growth month for sales tax collections out of the last 27 months, starting with January 2008,” Goetz said. “Sales tax collections seem to reflect a degree of renewed consumer confidence, but revenues continue to lag below projections.

“Until we see clear signs that the economy is recovering we will continue to make budget decisions based on what we’re experiencing in Tennessee.”

On an accrual basis, March is the eighth month in the 2009-2010 fiscal year. The general fund was under collected by $8.7 million and the four other funds were under collected by $3.0 million.

Sales tax collections were $14.0 million less than the estimate for March. The March growth rate was negative 0.87%. For eight months revenues are under collected by $211.4 million. The year-to-date growth rate for eight months was negative 5.29%.

Franchise and excise taxes combined were $8.4 million above the budgeted estimate of $122.6 million. For eight months revenues are over collected by $15.7 million. The year-to-date growth rate for eight months was 6.64%.

Gasoline and motor fuel collections for March decreased by 1.70%. For eight months revenues are under collected by $16.9 million.

Tobacco taxes collections were $1.3 million over the budgeted estimate of $24.4 million. For eight months revenues are over collected in the amount of $1.6 million.

Year-to-date collections for eight months were $244.1 million less than the budgeted estimate. The general fund was under collected by $205.0 million and the four other funds were under collected by $39.1 million.

Energy Management Workshops for Tennessee Schools

ECD, TVA Announce Energy Management Workshops for Tennessee Schools

The Tennessee Department of Economic and Community Development announced Tuesday, April 6, it will partner with the Tennessee Valley Authority to host statewide Energy Management Workshops to help K-12 schools lessen the impact of energy costs on school budgets. The free, one-day workshops will help schools and school districts develop multi-disciplinary energy management plans to provide real solutions and savings on energy expenses.

An uncharacteristically cold and snowy winter in Tennessee has left many schools spending more on energy costs than on computers and books combined, and it is estimated that as much as 25 percent of the energy used in K-12 schools is wasted.

Attendees will learn a step-by-step systems approach for creating both district- and school-level energy management programs; gain a better understanding of resources available from ECD, TVA and the Tennessee Energy Efficient Schools Initiative for improving energy efficiency and conservation in school buildings; and provide tools, curriculum and hand-on classroom kits to help schools and school districts meet their specific energy goals.

Workshop locations and dates are as follows:

Chattanooga - April 27; www.regonline.com/needchattanooga
Johnson City - April 29; www.regonline.com/needjohnsoncity
Jackson - May 5; www.regonline.com/needjackson
Nashville - May 6; www.regonline.com/neednashville

A school or school district is encouraged to send representatives from each of the following areas: administration/finance, curriculum, facilities/operations and teaching faculty. Attendees can choose from two tracks: energy management or energy education.

For more information about this program and for links to on-line registration forms, click here

Library Initiative for Rural Communities

Thanks to a joint effort between the Office of the Secretary of State, the Tennessee Department of Economic and Community Development (ECD) and U.S. Department of Agriculture (USDA) Rural Development, computer technology resources and training will soon be coming to as many as 76 libraries in 61 rural Tennessee counties. The initiative is the culmination of more than a year’s effort by ECD and the Tennessee State Library and Archives (TSLA) division of the Office of the Secretary of State. ECD and TSLA recently attracted the attention and support of USDA Rural Development, resulting in the formation of a critical state-federal initiative that will have a significant impact on citizens in rural Tennessee.

The initiative will increase the capacity of rural libraries to provide workforce training and increase educational opportunities for the communities they serve. This will be accomplished by providing libraries with funds to set up computer training centers and hire instructors to teach basic computing skills for job-seekers. Economically disadvantaged rural counties with little or no access to high-speed Internet are being targeted. The announcement was made by ECD Commissioner Matt Kisber, Secretary of State Tre Hargett and USDA Rural Development State Director Bobby Goode during the opening session of the Fifteenth Annual Rural Development Conference hosted by Tennessee Technological University.

"This partnership is one of the many ways ECD and the Office of the Secretary of State are working with USDA Rural Development to strengthen our rural communities," said Kisber. “Solid community development is the foundation for economic growth and is at the center of our economic development strategy.”

Approximately 76 rural public libraries across the state will be eligible to apply for a grant through their respective county to create or upgrade broadband-enabled computer labs, which will range from an estimated $13,000 to almost $20,000 depending on the local need and availability of existing resources. Funding will pay for seven to 12 new computers, all necessary peripheral equipment, a high-speed Internet router for each participating library and instructors to conduct training classes for the community.

To read the full press release on this initiative, click here.