Tenn. revenues expected to grow by up to 4 percent - WMC Action News 5 - Memphis, Tennessee

Tenn. revenues expected to grow by up to 4 percent

(AP) - The State Funding Board has agreed to upward revisions for current budget year general fund revenues of at least $177 million and pegged next year's growth at up to 4 percent.

The panel at a meeting in Nashville on Monday unanimously agreed to the estimates used by lawmakers and the governor to plan state expenditures.

The state spending year for the budget year that began on July 1 assumed the state would collect about $8.87 billion for the general fund. Those figures have now been moved up to at least $9.05 billion.

State Finance Commissioner Mark Emkes has said the state should use some of that surplus to restock the state's cash reserves and the rest to defray cuts for existing programs.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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