Archives 05-18-2005

News

National Guard helicopter lands at Hilham Elementary
Patrol car run off road near Justice Center
Tennessee's April revenues announced

National Guard helicopter lands at Hilham Elementary

photo courtesy of Hilham Elementary
Helicopter pilot CW3 Daniel Cole interacts with students at Hilham Elementary School during a special visit by the Tennessee Army National Guard helicopter on Friday, May 13. The helicopter landed on Hilham ElementaryÍs playground, and its crewmembers, CW3 Cole and SFC Mike Buentello, crew chief, talked to the students about the aircraft and jobs in the National Guard. Both Guardsmen spent more than an hour answering the many questions of the students and faculty. The visit was coordinated by retired Colonel William R. Moore of the Tennessee Army National Guard.

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Patrol car run off road near Justice Center

Darren Oliver/OCN staff
A Tennessee Highway Patrol Trooper investigates an incident Saturday night, May 14 in which Overton County Sheriff's Deputy Lee Swallows' patrol car ran off the road near the Justice Center on the Highway 111 Bypass. According to Overton County Sheriff's Department, Deputy Swallows was on the bypass around 10 p.m. when he had to avoid an oncoming vehicle that entered his lane. The patrol car reportedly hydroplaned on the rainslick road and went into the ditch and stopped against a culvert. The airbags deployed, but Deputy Swallows sustained cuts and abrasions and was transported to Livingston Regional Hospital, where he was treated and released. He has returned to duty.

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Tennessee's April revenues announced

On an accrual basis, April is the ninth month in the 2004-2005 fiscal year. Department of Revenue tax collections were $1.152 billion.

April revenues were $59.3 million more than the budgeted estimate, according to Finance and Administration Commissioner Dave Goetz. The general fund had a $51.4 million overcollection and the four other funds overcollected by $7.9 million.

Sales tax collections were $15.8 million more than the estimate in April. For nine months, revenues are undercollected by $56.6 million. The April growth rate was 5.25%. Year-to-date growth was 4.46% or 0.46% less than the budgeted estimate for the year.

Franchise and excise taxes combined were $17.8 million more than the estimate of $298.6 million. For nine months, revenues are $121.2 million overcollected, which is $8.4 million less than an alternative estimating model indicates. April collections typically are about 25% of total annual collections and reflect the annual tax return from calendar year filers.

Gasoline taxes and motor vehicle registrations were $3.7 million more than the budgeted estimate of $96.1 million.

Year-to-date collections for nine months are $91.9 million more than the budgeted estimate. The general fund, because of franchise and excise tax collections, is overcollected by $93.1 million and the four other funds are undercollected by $1.2 million.

The budgeted revenue estimates and the revised estimates presented in the new budget document are the same in total revenue and general fund revenue. The individual estimates are different. The revised estimates assume a $65 million shortfall in sales tax collections, a surplus of $60.4 million in franchise and excise taxes, and a surplus of $4.6 million in all other taxes when compared with budgeted estimates for the full fiscal year.

The budgeted revenue estimates are based upon the State Funding Board's consensus recommendation adopted by the second session of the 103rd General Assembly in May of last year.

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