Go ahead, read that again. In one month, the state collected $600 million more than planned.
Here’s more from Schelzig:
Tennessee’s general fund revenue collections were nearly $600 million above estimates in April, bringing the state’s surplus to $1.9 billion through the first nine months of the budget year.
So, with three months left in the fiscal year, the state is nearly $2 billion ahead of where it planned to be. Even if the surpluses drop off, the state is well on its way to a surplus significantly in excess of $2 billion.
To put this in perspective, the state is $1.7 billion behind where it should be in terms of funding public schools according to a bipartisan legislative commission.
For further perspective, the April surplus alone is three times what Gov. Bill Lee CONTINUE READING: April Showers – Tennessee Education Report