Tenn. Revenue Estimates Reflect Improving Economy

NASHVILLE, Tenn. (AP) – Members of the State Funding Board say their revenue projections are indicative of Tennessee’s improving economy, but also reflect events that are happening globally. Under the best-case scenario adopted by the panel on Friday, general fund collections for next year will increase by at least $18.5 million, or 3.4 percent. The funding board is made up of the finance commissioner and the three constitutional officers appointed by the Republican Legislature. Finance Commissioner Mark Emkes says the number is somewhat conservative because “we’ve got to keep an eye on events happening globally that could potentially negatively impact us,” such as the turmoil in the Middle East that has spiked gas prices.