Vermont General Fund tax revenues down $5 million

first_imgSecretary of Administration Jeb Spaulding has released the July 2011 General Fund (GF) Revenue results. July is the first month of fiscal year 2012. General Fund revenues totaled $86.27 million for July 2011, and were -$4.89 million or -5.36 percent below the $91.16 million consensus revenue forecast for the month.Spaulding explained, ‘While we always prefer to meet or exceed our targets, I would caution anyone from using this one month’s performance as a barometer for the future. July is a notoriously bad predictor of how revenue will trend for the fiscal year in total. For example, July 2010 GF revenue was short of the monthly target by -1.6 percent, but the full year ended up12.9 percent above target.’‘One positive sign I would like to note is that although July 2011 General Fund revenues were below the monthly target, we were still ahead of last July by 4.9 percent – a continued sign of a slow, but steady recovery. The big question at this point is how the events playing out in Washington DC and global financial markets will affect that recovery,’ Spaulding commented.Current targets reflect the Fiscal Year 2012 Consensus Revenue Forecast adopted by the Emergency Board at their July 21, 2011 meeting. Statutorily, the State is required to revise the Consensus Revenue Forecast two times per year, in January and July; the Emergency Board may schedule interim revisions if deemed necessary.Personal Income Tax (PI) receipts are the largest single state revenue source providing approximately 50 percent of total GF revenue. PI Tax receipts are reported Net-of-Personal Income Tax refunds. Net Personal Income Tax is comprised of PI Withholding Tax, PI Estimated Payments, PI Refunds Paid, and PI Other. Net PI Receipts for July were recorded at $44.52 million, -$3.59 million or -7.46 percent short of the monthly target of $48.11 million.Corporate Income Taxes are also reported net-of refunds. July Corporate receipts of $1.97 million were -$0.41 million or -17.03 percent below the monthly target of $2.38 million. Since most Corporate Taxes are paid on a quarterly basis, the four largest months for Net Corporate Tax Receipts are September, December, March and June.Consumption tax results for July were ahead of target: Sales & Use Tax receipts of $21.32 million exceeded the monthly target by +$0.58 million (+2.78 percent) and were 7.2 percent ahead of what was collected for the month last year; Rooms & Meals Tax receipts of $10.37 million exceeded target by +$0.31 million (+3.06 percent) and were 3 percent ahead of what was collected for the month last year.The remaining non-major tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and ‘Other’ (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). The results for the remaining non-major categories for July were as follows: Insurance Tax, $0.41 million (+54.65 percent); Inheritance & Estate Tax, $0.38 (-76.65 percent); Property Transfer Tax, $0.78 million (-8.16 percent); and ‘Other’, $6.51 million (-8.31 percent). ConclusionSecretary Spaulding concluded, ‘Vermont’s economy has slowly been recovering and July revenues do not contradict that trend. However, clearly, we are concerned about potential impacts from current global and national events. We will be keeping an especially close eye on our revenue performance and budgetary moves in Washington over the next month or so, in case quick action is needed by the Governor and Legislature.’ Transportation FundThe non-dedicated Transportation Fund Revenue for July was also reported on by Secretary Spaulding. Total non-dedicated Transportation Fund receipts of $15.26 million for the month fell below target by -$0.46 million (-2.92 percent), against the monthly target of $15.72 million.Individual Transportation Fund revenue receipts components for July were mixed: Gasoline Tax, $5.11 million or +0.73 percent ahead of target; Diesel Tax, $0.50 million or -36.15 percent below target; Motor Vehicle Purchase & Use Tax, $3.28 million or -8.51 percent behind target; Motor Vehicle Fees, $5.05 million or -0.95 percent below target; and Other Fees, $1.31 million or +12.28 percent above the monthly target.Secretary Spaulding said, ‘Once again, July is not a good predictor of the overall Transportation Fund revenue trend. The specter of high fuel prices remains a concern for the T-Fund and our economic recovery, but if oil prices continue to abate somewhat from their recent highs and the economy stabilizes, revenues for the year may perform as or better than expected. Higher energy prices, particularly for gasoline can have a deleterious effect on the economy and the recovery.’The Secretary also reported on the results for the Transportation Infrastructure Bond Fund (’TIB’). TIB Fund Gas receipts for July were $1.60 million or +4.99 percent in excess of target. TIB Fund Diesel receipts were $0.06 million or -29.20 percent short of the monthly target. TIB Fund receipts are noted below the following table:center_img Education FundThe ‘non-Property Tax’ Education Fund revenues (which constitute approximately 12 percent of the total Education Fund sources) were released today by Secretary Spaulding. The non-Property Tax Education Fund receipts for July totaled $13.30 million, or +$0.14 million (+1.03 percent) above the $13.16 million target for the month. The individual Education Fund revenue component results for July were: Sales & Use Tax, $10.66 million, or +2.78 percent above target; Motor Vehicle Purchase & Use Tax, $1.64 million or -8.51 percent; Lottery Transfer, $1.00 million – exactly on target; and Education Fund Interest, a loss under $0.01 million against a target of under $0.01 million.last_img read more

Mitch Marner injury update: Toronto Maple Leafs forward to return Wednesday

first_imgMarner falls awkwardly and slowly slides his way to the Leafs bench.— Flintor (@TheFlintor) November 10, 2019Marner briefly returned to the ice during a TV timeout to test the ankle, but he said the team’s trainers recognized he was “in an uncomfortable situation” and told him to leave the game.Marner has scored 18 points (four goals, team-high 14 assists) in 18 games this season. While the Leafs ultimately lost that Nov. 9 matchup against the Flyers 3-2, the winger had on Nov. 12 that he viewed his recovery time as an opportunity to come back stronger than before.“Looking back at the video, seeing the photos, it could have been a lot worse than what actually happened,” Marner said. “You always have to look at the bright side and now it’s something where I can get in that gym, get stronger and try to make my shot better when I get back.” Toronto Maple Leafs forward Mitch Marner will return for the team’s game against the Colorado Avalanche on Wednesday, less than a month after he sustained a high-ankle sprain.The team had initially indicated the 22-year-old star would be sidelined for a minimum of four weeks after his injury, but Marner returned to practice on Monday, about one week earlier than expected. Marner told reporters on Nov. 12 that he expected his ankle to “kind of be facing the wrong direction” when he heard a snap when the injury happened in a Nov. 9 game against the Philadelphia Flyers“When I noticed that it wasn’t, I didn’t really know what the feeling was,” he said via TSN. “I didn’t know what the result could have been, so I kind of had my mind open to anything.”The injury itself came when he tripped over the stick of Philadelphia’s Carsen Twarynsk in the second period Saturday and awkwardly twisted the ankle. He initially tried to skate off the ice but appeared unable to put weight on his right leg. He eventually dragged himself to the bench on his hands and knees.last_img read more

Real Madrid travel to Girona in eye of political storm

first_img0Shares0000Fresh from picking up FIFA’s award for the best player of 2017, Cristiano Ronaldo will be one of number of Real stars to return for their match on October 29 © AFP/File / Ben STANSALLMADRID, Spain, Oct 27 – After watching Barcelona cope ably with the distraction of political tension sweeping across Spain in recent weeks, it is Real Madrid’s turn to head into the eye of the storm on Sunday when they travel to Girona.It is the European champions’ first trip to Catalonia since violence marred a separatist called independence referendum for the region on October 1 that has sparked weeks of political chaos. The atmosphere surrounding Real’s first ever top-flight visit to Girona, a heartland of pro-independence support, could be further intensified should the Spanish government follow through with plans this weekend to seize Catalonia’s autonomous powers in an attempt to stave off a declaration of independence.But the protagonists insist they are preparing solely with the 90 minutes on the pitch in mind.“We will have the security there as always to play a football match, nothing more,” said Madrid coach Zinedine Zidane.“We are thinking solely about the match as always and not about what could happen around it.”As is normal on trips to Catalonia, Real will not use their official team bus for fear of reprisals.“It won’t be the first time that this has happened and there is no need to give it any further importance,” Real’s Director of Institutional Relations, Emilio Butragueno, told Spanish sports daily Marca.“Real Madrid are a football club and we will only talk about the football – that is all we focus on, to win and to make our fans happy.”Fresh from picking up FIFA’s award for the best player of 2017, Cristiano Ronaldo will be one of number of Real stars to return after being rested for Real’s Copa del Rey last 32, first leg at third-tier Fuenlabrada on Thursday.Gareth Bale once again misses out through injury, although there is hope the Welshman could return from a calf problem in time to face his old side Tottenham Hotspur in the Champions League on Wednesday.– Valverde’s homecoming –Barcelona’s coach Ernesto Valverde returns to San Mames for the first time since swapping Bilbao for Barcelona in June 2017 © AFP/File / Josep LAGOPolitical distractions aside, Real remain in need of the points in Girona in their chase of Barcelona, who travel to Athletic Bilbao on Saturday hoping to open up an eight-point lead over their rivals.Barca boss Ernesto Valverde returns to San Mames for the first time since swapping Bilbao for Barcelona in June.“No matter where you have made your career or where you have played, everyone has the club they are most defined by and mine clearly is Athletic,” Valverde told Barcelona’s website.“The first time you go back you try to concentrate on your own team because if you go around shaking hands with everyone you forget there is a game and three very important points at stake.”Valverde’s influence at both Barca and Athletic has been noted in the first few months of the campaign.Whilst the Catalans have won 12 and drawn one of their last 13 games in all competitions, the Basques have just one win in 11 and have slipped to 11th in the table.– Atletico go for goals –Atletico Madrid are better-placed just six points back on Barcelona in fourth, but have been dogged by a lack of ruthlessness in front of goal all season as they await the return of club record signing Diego Costa in January.“It is the same thing as always, our lack of efficiency in front of goal doesn’t give us the calm we need. We don’t score the goals and, in the end, we suffer,” midfielder Saul Niguez said after Atletico were held 1-1 by third-tier Elche in the Cup on Wednesday.By contrast, Atletico’s rock solid defence comes up against the most in-form striker in the league on Saturday as Cedric Bakambu’s Villarreal visit the Wanda Metropolitano.Bakambu has scored six times in his last three La Liga outings to lift Villarreal to sixth.“Three points against Villarreal will put us back in a good position and the dynamic of the group will change,” added Saul.Fixtures SaturdayAlaves v Valencia (2pm), Atletico Madrid v Villarreal (7:30pm), Athletic Bilbao v Barcelona (9:45pm), Sevilla v Leganes (11:30)SundayGetafe v Real Sociedad (1pm), Girona v Real Madrid (5:15pm), Eibar v Levante (7:30pm), Malaga v Celta Vigo (9:45pm)MondayEspanyol v Real Betis, Las Palmas v Deportivo la Coruna (10pm)0Shares0000(Visited 1 times, 1 visits today)last_img read more

UEFA Europa League, AZ Alkmaar vs Manchester United LIVE Streaming: When and Where to Watch Online, TV Telecast, Team News

first_imgAZ Alkmaar will host Manchester United at the Kyocera Stadium in The Hague on Thursday, in the second matchday of the UEFA Europa League 2019-20. In the previous week, Manchester United defeated Astana 1-0 in their group stage opener, whereas, AZ Alkmaar drew 2-2 against Partizan.Manchester United manager Ole Gunnar Solskjaer has described the artificial turf as ‘one of the worst astro turf pitches’ he has seen for a long while. Speaking to the media ahead of the Group L clash, Solskjaer said, “I’m surprised they have chosen to play on this pitch when I have looked at it.”The surface has further forced Solskjaer to drop Paul Pogba from the squad as he suffered an ankle injury. Along with Pogba, striker Anthony Martial and defender Phil Jones will miss the trip. Both, Aaron Wan-Bissaka and Luke Shaw are still unavailable.Calling it a massive game for the club, Solskjaer said the upcoming clash is important for all the players and team is now just focused on this one.Meanwhile, AZ Alkmaar coach Arne Slot has said Manchester United is a tough nut to crack even if they play their young players.What time is kick-off?The game will kick off at 10:25PM IST on October 3. There are 24 Europa League games tonight with 12 of them in the early 10.25PM slot and the remaining 12 will start at 12:30AM on October 4.What TV channel is it on?Sony will show every game from the Europa League LIVE in India this season. AZ Alkmaar vs Manchester United will be LIVE on Sony Ten2 SD and HD on Thursday night.How can I stream it?The Europa League AZ Alkmaar vs Manchester United live stream will be available on Sony LIV app in India for premium users. AZ AlkmaarfootballManchester Unitedole gunnar solskjaer First Published: October 3, 2019, 7:27 PM IST Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.last_img read more

Men’s Open Squad Inspire Parkes Juniors

first_imgAs part of the weekend, the squad helped coach Parkes’ junior teams who will take part in the New South Wales Junior State Cup later this month. Parkes Touch Association President, Al Gersbach, says it was an enjoyable experience for all involved. “We got a lot out of it from a coaching point of view and the kids got a lot more out of it. They thoroughly enjoyed themselves. We had a dinner on the Saturday night and the comment I made was that a few times during the day I got the opportunity to stand there and look around and see everyone’s expressions and all of the Australian players were laughing and doing stuff with the kids and the kids were having a ball, they were over the moon. They were all laughing and having fun and the Aussie guys did an absolute fantastic job,” Gersbach said. It is the second time that the squad has trained in Parkes in recent years, following their first training camp at Pioneer Oval in October 2009. Gersbach says that there are plenty of benefits of having the squad comes to Parkes and hopes it can happen again in the future. “It’s good that we’ve got that association with the guys after the first one we had, it’s just grown from that. A lot of friendships were made then and I think they continued from there, especially with the kids, they knew most of the Aussie players when they turned up. For the new kids, they were just over the moon that there were Australian players standing there in front of them.”“I can’t speak highly enough of what they’ve done for us, the benefits we received, and the squad from the sound of it thoroughly enjoyed coming out here too. They were very professional in the way they went about things,” Gersbach said. Close to 150 players and officials from Parkes will travel to Wollongong for the Junior State Cup later this month and the teams are looking forward to the challenge following the help from their new friends. “I’m actually the coach of the under 12’s boys team and the improvement that came from them after the weekend, we trained again on Monday after the guys left on Sunday and the improvement was 50 per cent better than before.”Thank you to Fiona Lovett from Parkes Touch Association for providing the photos. More photos can be found on the Touch Football Australia Facebook page as well as the High Performance part of this website. Please click on the following links: read more