Friday, June 15, 2012 - 5:18pm
DEFAC up $28.8M in June
Revenues are up in June, meaning the bond bill committee and grants-in-aid will have some extra money to work with in the two weeks leading up to the final passage of the Fiscal Year 2013 budget.
State Secretary of Finance Tom Cook tells WDEL revenues in June were up $28.8 million largely due to a very last-minute payment.
"We actually did receive a payment at 10:30am this Click here to listen
morning from a corporate income taxpayer that was unexpected because they had already made their estimated payment for this year. It was due on June 15th, and they made an additional payment today, and that payment was more than double what the original payment was," says Cook.
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With an extra 2.2 percent increase in the FY2012 budget, Cook hopes the General Assembly will spend responsibly in the weeks leading up to June 30th.
"There are areas where the Governor could not make recommendations in January to fully fund the Transportation Trust Fund, Open Space, and Farmland Preservation, and I think those are key areas that need funding for next year and should be the focus this next week.
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For the year, revenues were up by nearly $57 million.
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