Vermont General Fund tax revenues above target; Transportation and Education fall below

first_imgTransportation FundSecretary Spaulding also reported on the results for the non-dedicated Transportation FundRevenue for December. Total non-dedicated Transportation Fund receipts of $15.62 million forthe month were below target by -$1.16 million (-6.94%), against the monthly target of $16.78million. The year to date non-dedicated Transportation revenue was $104.62 million versus thetarget of $104.60 million (+$0.01 million, +0.01%).Individual Transportation Fund revenue receipts components for December were: Gasoline Tax,$4.78 million or -8.49% behind target; Diesel Tax, $1.20 million or -33.73% below target; MotorVehicle Purchase & Use Tax, $3.98 million or +12.76% above target; Motor Vehicle Fees, $4.59million or -0.20% short of target; and Other Fees, $1.07 million or -34.02% below the monthlytarget. The December year to date Transportation Fund revenue results were: Gasoline Tax,$31.62 million or -1.47% short of target, Diesel Tax, $7.37 million or -4.56% behind target;Motor Vehicle Purchase & Use Tax, $24.38 million or +1.79% ahead of target; Motor VehicleFees, $33.21 million or +3.15% above target; and Other Fees, $8.03 million or -7.00% short oftarget.Secretary Spaulding also reported on the results for the Transportation Infrastructure Bond Fund(’TIB’). TIB Fund Gas receipts for December were $1.21 million or -9.89% below target; yearto date receipts of $8.30 million were -1.40% short of target. TIB Fund Diesel receipts were$0.15 million or -32.59% behind target for the month; year to date TIB Diesel receipts were$0.87 million or -6.28% short of the target. TIB Fund receipts are noted below the followingtable: Education FundThe ‘non-Property Tax’ Education Fund revenues (which constitute approximately 11.9% of thetotal Education Fund sources) were released today by Secretary Spaulding. The non-PropertyTax Education Fund receipts for December totaled $11.93 million, or -$0.06 million (-0.47%)short of the $11.99 million target for the month. Year to date Education Fund revenues were$74.97 million or -0.39% behind the year to date target of $75.26 million.The individual Education Fund revenue component results for December were: Sales & Use Tax, $8.49million, or -2.10% below target; Motor Vehicle Purchase & Use Tax, $1.99 million or +12.76%; LotteryTransfer, $1.45 million or -5.31%; and Education Fund Interest, under $0.01 million against a target of$0.02 million (-78.11%). Year-to-date results were: Sales & Use Tax, $53.61 million or -0.12%; MotorVehicle Purchase & Use Tax, $12.19 million or +1.79%; Lottery Transfer, $9.14 million or -3.76%; andEducation Fund Interest, $0.03 against a target of $0.11 million (-75.90%). Secretary of Administration Jeb Spaulding released the December 2010 General Fund Revenue results today. December is the sixth month of fiscal year (FY) 2011. Driven mostly by strong results in corporate tax receipts, General Fund revenues totaled $101.86 million for December 2010, and were +$3.46 million or +3.51% above the $98.40 million consensus revenue forecast for the month.The month of December General Fund Revenue reported in the table below includes a reduction of $2.30 million in the ‘Other’ category. This adjustment reflects a special one-year only revenue receipt not included in the Consensus Revenue Forecast; the $2.3 million was corrected cumulatively in the month of December for activity in prior months. Net of this adjustment, year-to-date General Fund receipts of $549.38 million were +$19.93 million, or +3.76% ahead of year-to-date target of $529.45 million. Additional information about this adjustment may be found in the footnote on Attachment 1.The monthly targets reflect the revised Fiscal Year 2011 Consensus Revenue Forecast approvedby the Emergency Board at their July 14, 2010 meeting. December 2010 is the last month thatwill be compared to the July 2010 Consensus Revenue Forecast. The Emergency Board will beadopting a revised Consensus Revenue Forecast at their meeting scheduled for January 14, 2011.Statutorily, the State is required to revise the Consensus Revenue Forecast two times per year, inJanuary and July; the Emergency Board may schedule interim revisions if deemed necessary.Personal Income Tax (PI) receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for December were recorded at $52.88million, or +$1.53 million or +2.98% above the monthly target of $51.35 million.Corporate Income Taxes for December are also reported net-of refunds. The December receipts wererecorded at $18.34 million, or +$8.16 million or +80.19% above the monthly target of $10.18 million.Secretary Spaulding noted that, ‘The increase in Corporate Estimates activity over the first half of fiscalyear 2011 was a surprise in that it did not appear to be tied to any discrete improvement in corporateprofitability or any other macroeconomic factor that is currently understood. This activity thereforerepresented an unusual increase that needs to prove itself sustainable over time before these revenues areto be incorporated into the revenue forecast baseline.’The consumption taxes experienced mixed results for December; Sales & Use Tax receipts of$16.98 million fell short of the monthly target by -$0.36 million (-2.10%), while Rooms & MealsTax receipts of $7.83 million exceeded target by +$0.09 million (+1.15%).The year to date results for the four major General Fund categories are as follows: PersonalIncome Tax, $267.53 million (+1.16%); Sales & Use Tax, $107.22 million (-0.12%); Meals &Rooms Tax, $63.22 million (+0.13%); and Corporate, $44.62 million (+68.85%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real PropertyTransfer Tax, and ‘Other’ (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax,Beverage Tax, Fees, and Other Taxes). The adjusted results for the month of December were asfollows: Insurance Tax, $1.32 million (-13.23%); Estate Tax, $0.49 million (-66.83%); PropertyTransfer Tax, $0.68 million (-18.45%); and ‘Other’, $3.36 million (-57.91%). As adjusted, yearto date results for these categories were: Insurance Tax, $17.45 million (+6.29%); Estate Tax,$5.68 million (-29.11%); Property Transfer Tax, $4.13 million (-13.79%); and ‘Other’, $39.52million (+1.71%). center_img ConclusionSecretary Spaulding explained that, ‘Comments and analysis on the state of the economy andrevenue results will be presented in detail by the State’s two economists at this weeks’Emergency Board Meeting on Friday, January 14, 2011. In summary, we are pleased to seeimprovement in the General Fund and we await Friday’s revised revenue outlook.’last_img read more

Exotic Port Douglas mansion to be auctioned in Sydney

first_imgONE of Port Douglas’ most iconic properties is set to attract the attention of the world’s rich and famous as it heads to auction next month.“Tanamera”, an award-winning mansion in one of Australia’s most exclusive tropical locations, will be sold under the hammer on May 8 with the highly-anticipated Sydney-based sales event a rare opportunity for buyers to acquire this stunning Northern Queensland home.Exotic Port Douglas mansion ‘Tanamera’ to go under the hammer next monthDesigned and built to blend into the side of tightly-held Flagstaff Hill, Tanamera captures panoramic views from the famous Four Mile Beach across to the hinterland of the Daintree Hills.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:08Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:08 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenDream Home: Buderim02:08 Related videos 02:08Dream Home: Buderim00:32Mediterranean style mansion with wine cave02:10Dream Home: Manly01:31Lana’s Dream Home: favourite rooms01:19Dream Home: Buderim Qld01:36Dream Home: BrookfieldIts international owners spent four years planning and executing the concept of their dream home which was inspired by years of travel throughout East Africa and Asia.Exotic Port Douglas mansion ‘Tanamera’ to go under the hammer next monthOf particular significance to the multi-level feng shui design is the integral use of water through a series of cascading waterfalls and ponds.Internal gardens create a harmonious connection to the outside environment while the master retreat with spa pool takes its influence from East African safari lodges.=+More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Exotic Port Douglas mansion ‘Tanamera’ to go under the hammer next monthQueensland Sotheby’s International Realty principal Paul Arthur said the 2446sq m property would be ideal as a second residence, corporate retreat or holiday rental.Exotic Port Douglas mansion ‘Tanamera’ to go under the hammer next month“Located in a premier international tourist destination, within easy reach of Cairns Airport, this property is the perfect haven for interstate buyers seeking a five-star escape,” he said.“Similarly, it’s very well suited to Australian expatriates or, with FIRB approval, foreign investors.”Exotic Port Douglas mansion ‘Tanamera’ to go under the hammer next monthOpportunity also awaits a buyer interested in high yield returns and lucrative rental income.The property will be auctioned on May 8 at Intercontinental Sydney Double Bay, 33 Cross St, Sydney at 5.30pm.last_img read more

Beat-up UW looks to end losing streak

first_imgWisconsin head coach Lisa Stone coached Drake for three years before coming to Madison, grabbing a Sweet 16 birth in 2001-02.[/media-credit]After dropping another game to Oklahoma State (8-0) yesterday and now trying to recover from a seven-game losing streak, Wisconsin women’s basketball head coachLisa Stone made it clear that the Badgers are staying optimistic.Feeling the effects of a very difficult non-conference schedule, the Badgers now stand at 2-7 after a 50-42 loss to the Cowgirls, their second loss in the Big Ten/Big 12 Challenge. However, Stone remains confident in her team and is not disregarding the Badgers’ high expectations coming into the season.“We’ve had a very very rough schedule,” Stone said. “We are at full strength now, and … we’re looking forward to foraging forward. We’ve got to keep our noses up, and our chins up because this is a good basketball team. I believe in them, I know that we can get better, I know that we can shore some things up.”Wisconsin continued to struggle with turnovers in their road game against Oklahoma State, committing 25 of them in the game and making it very difficult to come away with a win.With no UW player putting up double figures in the game, Stone acknowledged that some changes need to be made to try to put an end to this losing streak. Stone noted that she will be giving some new players the chance to give the team the spark it needs.“We’re looking for some leadership on the court right now, and we’re going to give Tiera a look,” Stone said. “Both Cassie Rochel and Tiera Stephen, you’ll see them start to emerge. We need to take a little bit more pressure off of Alyssa [Karel]. We’re going to look at some other kids too, and continue to get better, continue to be confident with the ball.”Rochel, a 6-foot-4 freshman forward/center out of Minnesota, has seen limited action this year but will provide a post presence that could definitely help Wisconsin turn things around. Rochel should lessen the burden on senior forward Tara Steinbauer and help UW defend some of the strong inside players that the team has had trouble controlling throughout the year.Stephen is a redshirt sophomore guard who transferred from Louisville and has also not seen much playing time this season. Stephen should help take the load off Karel, the star senior point guard who is undoubtedly one of the offensive leaders of the team.Apart from these personnel changes, the team is also trying to instill a sense of confidence in its players to combat their struggles.“The attitude of the team is very good in terms of the team, and the belief in that we can get this thing turned around,” Stone said. “What’s wavering right now may be their confidence, and that is something that we need to continue drill, and find success, have some fun, lighten it up a little bit.”Stone also discussed Wisconsin’s game against Drake this Thursday. The matchup has special meaning for the Wisconsin coach as she was the head coach at Drake from 2000-2003. Reaching the Sweet 16 with Drake in the 2001-2002 season, the trip to a familiar arena will certainly bring back some good memories for Stone.However, while Stone admitted she is looking forward to this homecoming, she was sure to point out that she is focusing on her own team rather than the past.“It will be nice to be back and see some people. I’ve never been in… the visiting locker room, so that will be new,” Stone said. “It will be nice to go back, but right now it’s more about us. [We’re] playing a good team, they’re a very good team.”Despite their recent struggles, Stone is optimistic that this is just a rough stretch for Wisconsin, one that will help them in the future. As the conference season starts up at the end of this month, the Badgers will need to start playing their best basketball if they hope to fulfill their lofty preseason goals.“This storm that we’re in, we’re going to come out of it, and we’re going to be better for it,” Stone said. “And I believe that, and so does the team.”last_img read more