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Archives
01-24-2007
Emergency
workers respond to gas spill
Emergency workers respond to gas spill
Beth Underwood/OCN staff
Citizens' tips lead to recovery of property
Approximately $3,000 in stolen tools were recovered Thursday, Jan. 18 through the combined efforts of Overton County Sheriff's Department and Livingston Police Department. According to reports, the joint investigation into burglaries in the city and county led to a series of suspects. After interviews were conducted, the tools were recovered. In addition, a case was solved in which copper had been stolen from the "Old Shirt Factory" building on four separate occasions. The Sheriff's Dept. report credited the recovery of the property to local citizens, "without whose information and assistance these cases would not have been broken." Cases against several individuals will be taken to the grand jury.
Revenues announced for December A one-time increase in franchise and excise tax collections helped put state revenues above the budgeted estimate for December and year-to-date for five months. Finance and Administration Commissioner Dave Goetz reported that overall December revenues were $919.7 million or $113.8 million more than the state budgeted. "While we are pleased with December collections, and where we are year-to-date, we must continue to be cautiously optimistic," Goetz said. "Typically about a fourth of total franchise and excise tax collections come in April of each year. "The state's conservative approach to revenue estimation serves to keep spending in check and help us avoid end-of-year red ink.Ó December's increase in franchise and excise collections includes the result of a federal audit of three companies which caused a substantial revision of federally-recognized income, on which F&E taxes are largely based. On an accrual basis, December is the fifth month in the 2006-2007 fiscal year. December collections were $113.8 million more than the budgeted estimate. The general fund was overcollected by $114.1 million, and the four other funds were undercollected by $344,000. Sales tax collections were $8.6 million less than the estimate for December. The December growth rate was 2.69%. Accounting for $9.9 million in non-recurring audit assessments received in December 2005, the underlying growth rate for December 2006 is 4.67%. For five months revenues are undercollected by $70.4 million. Franchise and excise taxes combined were $118.2 million above the budgeted estimate of $102.2 million. For five months revenues are overcollected by $87.3 million. Gasoline and motor fuel collections for December increased by 1.81%, but were $591,000 below the budgeted estimate of $71.2 million. For five months revenues are undercollected by $3.7 million. Year-to date collections for five months were $50.2 million more than the budgeted estimate. The general fund was overcollected by $50.2 million and the four other funds were even with the estimates. The budgeted revenue estimates are based on the State Funding Board's consensus recommendation adopted by the second session of the 104th General Assembly in May of 2006.
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