Vt. revenues below target for June, above for year
MONTPELIER — Vermont finished its fiscal year in June with a slight lag in revenues but still finished slightly ahead of its target for the year.
Administration Secretary Jeb Spaulding says the state exceeded its fiscal 2012 revenue target of about $1.2 billion by 0.6 percent.
Spaulding said Friday that the $7.2 million in unanticipated revenue the state took in during the past year will be used for reconstruction of the Waterbury state office complex and repairs to other facilities damaged by Tropical Storm Irene.
He noted that state revenues still have not climbed fully back to their record level of $1.199 billion, reached in the last pre-recession year of fiscal 2008. The just-closed year’s revenues came in about $3 million short of that target.
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