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


Cranberry Martini.

first_imgFood & DiningLifestyle Cranberry Martini. by: – June 22, 2011 Share Sharing is caring! 38 Views   no discussions Sharecenter_img Cranberry MartiniUse good quality vodka and fresh cranberries to make your own cranberry-flavored vodka for this appealing martini. Coating the rim of the glass with vanilla-flavored sugar makes the cocktail even more special.You can make homemade vanilla sugar quite easily, but this should be done several weeks in advance of mixing the drink, because the time required for the vanilla bean (which is inserted into a jar with the sugar) to infuse the sugar with its flavor is quite lengthy.Ingredients:1 cup cranberries1 cup granulated sugar1 cup water1 750 ml-bottle good-quality vodka1 recipe Vanilla Sugar (optional)Ice cubesCranberries (optional)Directions:1.To make cranberry-flavored vodka, in a 1-1/2-quart saucepan combine 1 cup cranberries, 1 cup granulated sugar, and water. Bring to boiling, stirring until sugar dissolves. Continue to cook just until cranberries start to burst. Remove from heat, cool 30 minutes. Strain cranberry mixture, reserving cranberries and liquid. In a large glass pitcher, combine vodka, reserved strained cranberries, and 2/3 cup of the reserved liquid (discard remaining liquid). Cover and freeze for 3 days.2.Strain cranberries out of vodka; discard cranberries (you should have about 4 cups vodka mixture). If desired, place some Vanilla Sugar on a small plate. Dip rims of eight martini glasses in water and in Vanilla Sugar to coat rims; set aside.3.Place ice cubes in a martini shaker. For four drinks, add 2 cups vodka mixture; shake. Strain into four of the prepared glasses; repeat. If desired, garnish with additional cranberries threaded onto small skewers. Makes 8 drinks.4.Vanilla Sugar: Fill a quart jar with 4 cups granulated sugar. Cut a vanilla bean in half lengthwise and insert both halves into sugar. Secure lid and store in a cool dry place several weeks before using.Recipe source: BHG.com Share Tweetlast_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