TITLE

Delaware Raises 2003 Revenue Estimates to the Tune of $50.7M

AUTHOR(S)
Newman, Emily
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/22/2003, Vol. 344 Issue 31641, p40
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Led by a recent increase in estate tax income, Delaware raised its revenue estimates for the fiscal year of 2003 by 50.7 million dollar since its most recent fiscal evaluation in April 2003. With the additional receipts, the Delaware Economic and Financial Advisory Council, which formally estimates state revenues, now predicts a nearly 150 million dollar total increase since December, and lowered its estimated expenditures by roughly 18 million dollar, also since December 2002. Because that revenue source cannot be relied on in the future, legislators should avoid using it to eliminate 300 million dollar budgetary deficit for the year 2004, state governor Ruth Ann Minner said. One of her largest proposed construction projects for fiscal 2004 is a new Division of Motor Vehicles facility in Sussex County, which could cost more than 13 million dollar over the next two years, and a 220 million dollar state commitment to school construction that reportedly still awaits full funding.
ACCESSION #
9913120

 

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