Vermont's top state budget officer says state general revenues fell short of their target by nearly 4 percent in August.
Administration Secretary Justin Johnson says the primary cause of the shortfall was personal income tax revenues, which make up the largest part of what the state collects, coming in at about 7 percent lower than expected.
August is the second month of the fiscal year. So far, general fund receipts of about $194 million are running more than 1 percent behind expectations, but Johnson says there's time in the 10 months remaining to make up the shortfall.
Non-general fund revenues also lagged, with the transportation fund performing about 8 percent below expectations, and the education fund coming in at more than 10 percent below its target.
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