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

Shaun Wright-Phillips details failed Arsenal move as Chelsea swooped to sign him

first_imgAdvertisement Shaun Wright-Phillips was courted by Arsenal in his pomp (Picture: Getty Images)Shaun Wright-Phillips could have moved to Arsenal instead of Chelsea in the summer of 2005 if Arsene Wenger hadn’t insisted on delaying a move until the next transfer window.The winger was at the height of his powers in 2005, having been voted into the PFA Team of the Year for his performances for Manchester City, scoring 10 goals over the 2004/05 season.This was pre-investment City and the bigger clubs were circling for their star man, with Chelsea and Arsenal interested in signing Wright-Phillips.Given his dad Ian is a Gunners legend, Arsenal may have seemed the obvious destination, but Wenger wanted to wait until January to do the deal, something Wright-Phillips was not prepared to do.AdvertisementAdvertisementADVERTISEMENT‘They came in for me at the same time as Chelsea, but Arsene Wenger wanted to wait until January,’ Wright-Phillips told FourFourTwo.‘I’ve always been brought up to strike while the iron’s hot, because you never know what’s going to happen a week later.‘If I’d got injured, I might have missed both opportunities. Metro Sport ReporterTuesday 28 Apr 2020 11:14 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link577Shares Shaun Wright-Phillips details failed Arsenal move as Chelsea swooped to sign him Comment Advertisement Wright-Phillips went on to win the Premier League with Chelsea (Picture: Getty Images)‘Dad (Ian Wright) told me, “Son, of course I’d love it if you played for Arsenal, but we’ve got to take you where you fit best.” ‘We didn’t have to make a choice – Arsene made the decision for us.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityWenger had openly spoken about his admiration for Wright-Phillips at the time and his interest in signing the young attacker, but why he wasn’t ready to make the move in the summer of 2005 isn’t clear.Speaking in 2004, Wenger said: ‘He is a guy we have an eye on and we follow his progress. He will be a major threat to us, has a tremendous work-rate and tremendous penetrating power.‘He is a Wright – and the Wrights have a big love affair with Arsenal. He is an interesting player, a winner and I like his attitude.’Shaun would sign for Chelsea for £21m, winning the Premier League title in 2006 and FA Cup the following season.MORE: Arsenal, Man Utd and Liverpool all interested in Monaco striker Wissam Ben YedderMORE: Chelsea ready to offload Jorginho if they beat Man Utd and Arsenal to Declan Rice transferFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page.last_img read more

NPFL: Enyimba Holds Insurance to another Draw in Benin

first_imgDepending champions Lobi Stars also stay second from the bottom following the 1-1 draw with Katsina United in Makurdi.In another rescheduled match in Group B, Akwa United picked one point from the 2-2 draw away to Gombe United and stays in third place. They are two points behind both FC Ifeanyi Ubah and El-Kanemi Warriors at the top of the log while Yobe Desert Stars who lost 2-1 to Kada City in Kaduna remains at the bottom of the table.NPFL RESULTS(Rescheduled Matches)Kada City 2-1 Yobe StarsInsurance 0-0 Enyimba FCGombe Utd 2-2 Akwa UtdRemo Stars 2-1 WikkiLobi Stars 1-1 Katsina UtdShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Bendel Insurance recorded the sixth draw since returning to the Nigerian Professional Football League (NPFL) at home in Benin City against visiting Enyimba FC yesterday.The goalless draw in the rescheduled game means the Edo Arsenal remains in the drop zone of Group A of the abridged 2018/19 NPFL season while Enyimba on the other hand remains third on the log.Remo Stars defeated Wikki Tourists 2-1 in Sagamu to move to fifth spot on the log with 11 points from seven matches.last_img read more