Vermont tax revenues below targets as recovery lags

first_imgSecretary of Administration Neale F Lunderville announced today that Vermont’s July revenue figures for the General Fund and Transportation Fund fell below targets, while the Education Fund exceeded its target.General FundSecretary of Administration Neale F Lunderville released the July 2010 General Fund Revenues today. July is the first month of fiscal year (FY) 2011. General Fund revenues totaled $82.22 million for July 2010, and were -$3.61 million or -4.21% below the $85.83 million consensus revenue forecast for the month. July is the first month of the fiscal year; therefore the monthly and year to date results are the same.The monthly targets reflect the revised Fiscal Year 2011 Consensus Revenue Forecast approved by the Emergency Board at their July 15, 2010 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, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for July were recorded at $43.27 million, or -$1.99 million or -4.40% below the monthly target of $45.26 million.Corporate Income Taxes for July, which are also reported net-of-refunds, were recorded at -$0.81 million against a target of $1.62 million, or -$2.42 million (-149.86%) below the monthly target of $1.62 million, due to higher than expected corporate refund activity.The consumption taxes were above target for July; Sales & Use Tax receipts of $19.88 million were above target by +$0.19 million (+0.94%), while Rooms & Meals Tax receipts of $10.07 million were above target by +$0.11 million (+1.05%).The remaining 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 July were as follows: Insurance Tax, $0.28 million (-18.04%); Estate Tax, $0.90 million (-33.05%); Property Transfer Tax, $0.74 million (-11.11%); and ‘Other’, $7.87 million (+16.43%).Transportation FundSecretary Lunderville also reported on the non-dedicated Transportation Fund Revenue for July. Total non-dedicated Transportation Fund receipts of $15.57 million for July fell short of target by -$0.13 million (-0.80%), against the July target of $15.70 million.Individual revenue receipts components for July were: Gasoline Tax, $5.15 million or -1.12% short of target; Diesel Tax, $0.70 million or -10.91% below target; Motor Vehicle Purchase & Use Tax, $3.21 million or -3.19% below target; Motor Vehicle Fees, $5.52 million or +8.65% above target; and Other Fees, $1.00 million or -23.99% below the monthly target.Secretary Lunderville also reported on the July results for the Transportation Infrastructure Bond Fund (’TIB’). TIB Fund Gas receipts for July were $1.33 million or -5.00% short of target. TIB Fund Diesel receipts were $0.08 million or -10.97% short of target for July. TIB Fund receipts are noted below the following table:Education FundThe ‘non-Property Tax’ Education Fund revenues (which constitute 11.75% of the total Education Fund sources) were released today by Secretary Lunderville. The non-Property Tax Education Fund receipts for July totaled $12.55 million, or +$0.04 million (+0.32%) above the $12.51 million target for July.The individual Education Fund revenue component results for July were: Sales & Use Tax, $9.94 million, or +0.94% ahead of target; Motor Vehicle Purchase & Use Tax, $1.60 million or -3.19%; Lottery Transfer, $1.00 million – exactly on target; and the Education Fund Interest receipts were essentially $0, as was the target.Conclusion‘July’s target is always difficult to parse out from the annual Consensus Revenue Forecast. Over the last two decades, the July results have deviated from the July targets more often than not. One month’s results are insufficient to project a revenue trend ‘ up or down,’ said Secretary Lunderville. ‘However, we remain vigilant in the face of a weak recovery which seems to have lost momentum.’last_img read more


Lessons from China as coronavirus-hit football faces difficult return

first_imgShandong Luneng’s Marouane Fellaini of Belgium is the first known coronavirus case in the CSL Promoted ContentPlaying Games For Hours Can Do This To Your Body6 Major TV Characters We Were Relieved To See Leaving The Show9 Facts You Should Know Before Getting A TattooA Guy Turns Gray Walls And Simple Bricks Into Works Of Art10 Risky Jobs Some Women Do11 Most Immersive Game To Play On Your Table Top6 Great Ancient Mysteries That Make China Worth VisitingThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreCouples Who Celebrated Their Union In A Unique, Unforgettable WayDoors Opening, Strange Noises Coming From The Attiс: Who’s There?10 Legendary Historical Movies You Should See7 Black Hole Facts That Will Change Your View Of The Universe Late Thursday, China slashed the number of international flights and said that even foreigners with valid visas and resident permits will be blocked from entering after midnight Saturday. Some of the CSL’s most expensive players, including the Brazilians Oscar, Hulk and Paulinho, face a race against time. With global travel badly disrupted, wealthier clubs could charter planes to fetch their foreign stars. But it appears inevitable that some will miss the Saturday deadline. Those that do return will then need to go into isolation for a fortnight in case they are infected, adding another delay. They would then need time to get fit for the rigours of a condensed campaign. Congolese striker Cedric Bakambu gave an insight into the dilemmas players confront balancing their professional and personal obligations at a worrying time. Read Also: Barcelona celebrate Messi’s best assists in seven minutes (Video) The 28-year-old has been ordered back to CSL runners-up Beijing Guoan, which would mean leaving his heavily pregnant wife behind in France. Bakambu said that even though China is now considered safer than Europe, overseas players in China face the prospect of not seeing their families for several months if they go back – he risks missing the birth of his second child. “Knowing that I must leave without knowing when I can come back to see my son and my wife, who is due to give birth in a month, this is what is most difficult to live with,” he told L’Equipe. FacebookTwitterWhatsAppEmail分享 With nagging concerns about coronavirus sweeping through teams and players scattered across the world, unable or hesitant to return, China is finding that restarting football is no simple matter. The Chinese Super League has been suspended indefinitely The problems faced by China, one of the first countries to suspend football and the epicentre of the pandemic, could be a glimpse into the future for other leagues called off around the world. The Chinese Super League (CSL) was a harbinger of the collapse of global sport when officials announced in January that the February 22 start date had been indefinitely postponed. Last week there were claims that with the peak of coronavirus – which emerged in China in December – seemingly over in the country, the CSL could start on April 18. May 2 was also mentioned. But then came the first confirmed coronavirus case in Chinese football, a Brazilian in the second tier, one of a wave of imported cases that has put China on alert for a second virus emergency. And on Sunday former Manchester United midfielder Marouane Fellaini, now with Shandong Luneng, said he had tested positive, becoming the first known case in the CSL. On Thursday the respected Soccer News said the season has now been pushed back to late May or early June. However, tough government restrictions announced later Thursday that partially seal off China, reducing international flights and barring foreigners, throw even those dates into question. Suggestions that basketball, the other major sport in China, could restart in early April have also fizzled out, dealing a blow to government attempts to portray China as getting back to normal. “If more cases occur in the future, the date of the Chinese Super League restart will be postponed again,” Soccer News warned. Both Fellaini – one of the biggest names in Chinese football – and Brazilian forward Dorielton tested positive for the coronavirus after returning from abroad. – Bakambu’s baby dilemma –center_img Loading… Foreign leagues suspended by coronavirus will be watching how the CSL fares in getting off the ground, but the lingering threat of infections is not the only barrier. Chinese teams are training for the new campaign but numerous foreign players and coaches are still in their home nations and face being locked out the country.last_img read more


MLAX : Orange defense shuts down Siena’s high-powered attack

first_img Comments Facebook Twitter Google+ Published on May 15, 2011 at 12:00 pmcenter_img By the time Siena manufactured a goal in its set offense, the game was already out of reach. Danny Martinsen’s goal with 9:59 left in the fourth quarter only closed Syracuse’s lead to five.But it took all of 50 minutes for Siena to finally beat the Orange defense in six-on-six play. Their two previous goals came in unsettled, transition opportunities.And SU’s defenders gave the credit to their coaching staff after yet another dominant performance.‘We knew what they were going to do the whole time,’ sophomore Brian Megill said. ‘(Assistant coach Lelan Rogers) got us prepared. Their offenses, we knew down to a ‘T.”No. 1 SU’s defense was one step ahead of Siena (13-5) nearly all game as the Orange won its NCAA tournament opener 10-4 in the Carrier Dome Sunday. The Orange (15-1) forced 19 Siena turnovers and shut down the Saints’ playmakers to control its end of the field.AdvertisementThis is placeholder textSyracuse advances to the quarterfinal round of the tournament to play Maryland Sunday at noon in Foxborough, Mass.‘Our coaches did a great job scouting them and preparing us all week — what their favorite offenses are, man-up, man-down’ senior defenseman John Lade said. ‘When it came game time, it felt like that. We’d done it so many times that it was a lot easier to maintain them.’Three Siena players entered the game with more than 40 points on the season. Junior attack Bryan Neufeld ranked seventh in the country with 65 points, Martinsen registered 52 and junior midfielder Chris Roth tallied 43.And in spite of that success throughout the year, the Orange defense shut that trio down, holding them to a combined one point in the game.‘We needed to stay with our package, and I think the guys did that,’ head coach John Desko said. ‘But we needed to know who (those three) were and make sure when we did slide, we tried to cover up on those guys in particular and let the other guys shoot from outside.’Megill covered Martinsen throughout and seemed to really disrupt the Siena attack. He poked the ball away from the sophomore attack twice early on, and he seemed flustered the rest of the game, committing five total turnovers.Roth faced a variety of SU defensive midfielders, including Joel White, Kevin Drew and Tim Harder, among others. The Saints’ midfielder took six shots, but most of them were from distance and failed to threaten Orange goaltender John Galloway.Neufeld came into the Dome with at least one point in 52 straight contests. But that streak came to an end as the junior registered one shot and was a non-factor with Lade blanketing him.‘He’s an All-American for a reason,’ Neufeld said of Lade. ‘He does a good job positioning. He always is aware of where I am. I couldn’t really sneak around on him. He does a great job.’Siena’s first goal came in transition off a Syracuse turnover late in the first quarter. The Saints’ second goal came off the opening faceoff in the second as defenseman Brendan Meehan scooped up the loose ball and scored in the unsettled situation.That was the only offensive success the Saints mustered against the Orange, in scattered and sloppy situations. Megill said Siena did change up its looks occasionally, but most of what it ran, SU had prepared for all week in practice.And Syracuse didn’t get beat by that set offense it was so prepared for until it was already up 8-2 with 10 minutes left in the game.‘They do a good job hedging on-ball,’ Neufeld said of the Orange defense. ‘They don’t really commit and slide. They’re a good team. They’re No. 1 in the country for a reason.’zjbrown@syr.edulast_img read more


Shoah Foundation partners with genocide museum

first_imgStephen Smith, director of USC Shoah Foundation, and Hayk Demoyan, director of the Armenian Genocide Museum & Institute, signed a memorandum of understanding on Friday that marks the beginning of a new collaborative partnership between the two groups.Sixty testimonies from survivors and witnesses of the Armenian genocide will begin to be integrated into the Shoah Foundation’s Visual History Archive by April 24, when both the USC Shoah Foundation and Armenian Genocide Museum & Institute will mark the 100-year anniversary of the Armenian genocide, which took place from 1915 until 1922 at the hands of the Ottoman Turkish government. These testimonies are a part of the Armenian Film Foundation’s collection, recorded by filmmaker J. Michael Hagopian.The memorandum of understanding will bring the Shoah Foundation’s Visual History Archive containing video testimonies of genocide survivors to the museum in Armenia. The agreement will create opportunities for education and research collaboration between the two organizations on initiatives related to the Armenian genocide.This new collaboration comes at an appropriate time, as April is International Genocide Awareness and Prevention Month. The Visual History Archive is an online portal that currently gives users access to over 52,000 audio-visual testimonies of international genocide survivors, in 39 different languages. In the past year, the Visual History Archive added testimonies of survivors and witnesses of the 1994 Rwandan Tutsi genocide and from the 1937 Nanjing Massacre.“It opens up a whole new geography for access and collaboration, given that we’re bringing in the Armenian genocide testimonies into the archives and working with the museum to have the archives accessible,” said Karen Jungblut, the Shoah Foundation’s director of research and documentation. “It seemed like a logical extension for the museum to learn more about what we were doing here … it was an easily aligned mission to bring these materials and testimonies of survivors to an audience in Armenia as well as in the U.S.”Located in Yerevan, Armenia, the Armenian Genocide Museum & Institute, part of the National Academy of Sciences of the Republic of Armenia, serves as a research and humanitarian body, documenting all materials related to the Armenian genocide and making them accessible to the general public. The museum includes maps, eyewitness accounts, artifacts and other documentation of the genocide during which 1.5 million Armenians were killed.“We are deeply dedicated to ensuring that those testimonies collected by J. Michael Hagopian over those many decades find their voice[s] in the world. There is no better or more appropriate place to do that than in Yerevan itself,” Smith said. “It’s a place of memory, a place where history emanates from, and, through your leadership, ensures that research and education, which are the fundamentals of our institute too, really ground these testimonies in the world.”Demoyan said that the collaboration between the two groups marks an important push to pay tribute to those affected by the Armenian genocide.“This will not stay on the paper … our signatures are triggering something important, triggering the process of research, preservation, study and cooperation,” Demoyan said.Demoyan also serves as executive secretary of the state commission and is coordinating international efforts to commemorate the Armenian genocide this year.Jungblut hopes that the two organizations will continue to engage in an exchange of materials and research that will create opportunities for USC students and faculty.“In the future, we want to really explore all the possible pathways that we can work together and create exchanges on all fronts with dealing with the genocide and dealing with awareness and education about it,” Jungblut said.last_img read more