Tennessee Department of Finance and Administration Commissioner Jim Bryson announced that revenues for March were $1.6 billion, which is $33.3 million less than the budgeted estimates and $69.3 million less than March of last year.
General fund revenues were $35.4 million less than the March estimate, and the four other funds that share in state tax revenues were $2.1 million more than the estimates.
On an accrual basis, March is the eighth month in the 2024-2025 fiscal year.
On a year-to-date basis, August through March, total tax revenues are 0.08 percent less than the budget estimate, or $10.5 million less than expectations. When compared to this same period last year, total tax revenues have decreased by $17 million or 0.13 percent.
General fund revenues are 0.24 percent less than the year-to-date budgeted estimate, or $27.1 million. Likewise, year-to-date general fund collections compared to this same period last year have increased 0.30 percent or $33.2 million.