Tennessee Department of Finance and Administration Commissioner Jim Bryson announced Friday (1/19/24) that revenues for December were lower than expected and were less than the monthly revenues from the previous year. State revenues for December were $1.9 billion or $82.5 million less than the budgeted estimate, declining 1.60 percent.
On an accrual basis, December is the fifth month in the 2023-2024 fiscal year.
Year-to-date revenues for five months were $279.9 million less than the budgeted estimate. The general fund recorded $283.6 million in revenues less than estimates, and the four other funds recorded $3.7 million more than estimates. Year-to-date growth for the first five months of the fiscal year is negative 1.39 percent.