first_imgVermont personal income tax withholding continues to under perform, leading to general caution as the end of the fiscal year nears on June 30. However, Secretary of Administration Neale F Lunderville said it appears that state tax revenues will be on target for the first time in two years. Lunderville released the May 2010 General Fund Revenues today. May is the 11th month of fiscal year (FY) 2010. General Fund revenues totaled $51.70 million for May 2010. They were -$5.54 million or -9.67 percent below the $57.24 million consensus revenue forecast for the month. These May results reduced the year to date General Fund performance of $934.98 million to +$1.97 million, or +0.21 percent ahead of target.The monthly targets reflect the revised Fiscal Year 2010 Consensus Revenue Forecast approved by the Emergency Board at their January 13, 2010 meeting. Statutorily, the State is required to revise the Consensus Revenue Forecast two times per year, in January and July; the Emergency Board may schedule interim revisions if deemed necessary. The next Emergency Board meeting is tentatively scheduled for July 15, 2010.Personal Income Tax (PI) receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for May of $15.26 million were -$6.58 million or -30.14% short of the monthly target of $21.85 million.Secretary Lunderville said: Personal Income Tax withholding, estimated payments, and refunds all fell short of target for May. We had hoped that the above target performance in Personal Income Taxes last month would reduce the chance of a negative revenue surprise during May and June. However, the continued weakness, especially in PI Withholding which has finished below target every month since the January forecast revision causes some concern as to whether we will be able to achieve the June target in this major revenue category.Corporate Income Taxes, which are also reported net-of refunds, were above target for May with receipts of $2.13 million against a target of $1.37 million or +$0.76 million (+55.40%).The consumption taxes saw mixed results; Sales & Use Tax of $15.50 million was above target by +$0.25 million (+1.66%), while Rooms & Meals Tax receipts of $7.12 million slipped below target by -$0.08 million (-1.05%) for May.The year to date results for the four major General Fund categories are as follows: Personal Income Tax, $430.62 million (-2.16%); Sales & Use Tax, $191.17 million (+0.47%); Corporate, $61.23 million (+16.19%); and Meals & Rooms Tax, $109.39 million (+1.29%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and Other (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). The results for the month of May were as follows: Insurance Tax, $6.54 million (+26.56%); Estate Tax, $0.61 million (-41.78%); Property Transfer Tax, $0.58 million (+18.81%); and Other , $3.97 million (-18.75%). Year to date results for these categories were: Insurance Tax, $52.96 million (+0.56%); Estate Tax, $13.59 million (-10.75%); Property Transfer Tax, $6.98 million (+5.30%); and Other , $69.04 million (+2.43%).Transportation FundSecretary Lunderville also reported on the results for the non-dedicated Transportation Fund Revenue for May. Total non-dedicated Transportation Fund receipts of $19.01 million for the month or +$0.36 million (+1.94%) were above the monthly target for May of $18.65 million. The year to date non-dedicated Transportation revenue was $189.55 million versus the target of $188.18 million (+$1.36 million, +0.72%).May s results were mixed, as were April s. Gasoline Tax, Diesel Fuel Tax, and Motor Vehicle Fees saw above target results; Motor Vehicle Purchase & Use and Other fell below target for the month. The Transportation Fund revenue results for May were: Gasoline Tax, $4.63 million or +3.40% above target; Diesel Tax, $1.20 million or +22.13% above target; Motor Vehicle Purchase & Use Tax, $4.06 million or -4.10% below target; Motor Vehicle Fees, $7.79 million or +5.92% ahead of target; and Other Fees, $1.33 million or -16.89% below the monthly target.The May year to date Transportation Fund revenue results were: Gasoline Tax, $55.93 million or +0.46% ahead of target, Diesel Tax, $13.03 million or -1.14% below target; Motor Vehicle Purchase & Use Tax, $40.62 million or +3.42% above target; Motor Vehicle Fees, $63.89 million or +0.93% above target; and Other Fees, $16.07 million or -4.05%, short of target. The Transportation Fund continues to exceed the target for FY 2010 and the results for the same period in FY 2009. Indications are that the vehicle sales have begun to rebound since the fall of 2009 and we are reasonably confident that this trend will continue into June, said Secretary Lunderville.Lunderville also reported on the results for the Transportation Infrastructure Bond Fund ( TIB ). TIB Fund Gas receipts for May were $1.19 million or 2.53% ahead of target; year to date ($12.06 million) remained below target by -0.82%. The TIB Fund Diesel receipts were $0.12 million or +4.38% above target for the month; year to date TIB Diesel receipts were $1.22 million or +37.62% ahead of target. The TIB Fund receipts are noted below the following table:Education FundThe the non-Property Tax Education Fund revenues (which constitute approximately 11% of the total Education Fund sources) were released today by Secretary Lunderville. The non-Property Tax Education Fund receipts for May totaled $11.54 million, or +$0.02 million (+0.16%) above the $11.52 million target for the month. Year to date, Education Fund revenues were $133.93 million or +0.70% ahead of target.The individual Education Fund revenue component results for May were: Sales & Use Tax, $7.75 million, or +1.66% ahead of target; Motor Vehicle Purchase & Use Tax, $2.03 million or -4.10%; Lottery Transfer, $1.75 million or -1.76%; and Education Fund Interest, $0.01 million against a target of $0 million. Year-to-date results were: Sales & Use Tax, $95.58 or +0.47%; Motor Vehicle Purchase & Use Tax, $20.31 million or +3.42%; Lottery Transfer, $17.93 million or 1.04%; and Education Fund Interest, $0.10 million or +8.41%.ConclusionSecretary Lunderville concluded, We remain cautious due to the fragility of the economic recovery, especially in light of the European situation and mixed indicators of consumer confidence and spending for May. The risk of the economy slipping into a double-dip recession remains. We still have a long climb back to fiscal health with continued pressure on the state budget and the impending loss of federal stimulus monies. Important indicators, such as personal income tax withholding, have not performed as expected. That said, we are pleased that for the first time in two fiscal years our current revenue forecast seems to be holding. We hope to finish the 2010 fiscal year close to target.Source: Lunderville’s office. 6.15.2010last_img read more

first_imgNearly three years after Fort St. John City Council first made a resolution to look into the possibility of implementing an anti idling bylaw, Council has decided to re-examine its options.At a council meeting in June 2008, city staff was asked to look into the possibility of obtaining grant funding under the Ministry of Environment’s B.C. Air Action Plan. Although grant funding is no longer available, staff told Council that the Idle Free BC website offers information about creating an idle-reduction campaign. Furthermore, the City recently received a letter from a resident asking the City to investigate implementing an anti-idling bylaw. In his letter, the resident says he has experienced excessive vehicle idling in his neighbourhood and believes it is extremely unhealthy for residents to have to breathe in the exhaust.Currently, the Northern Environmental Action Team is conducting an idle reduction outreach program throughout the City. The program is designed to educate residents about the hazards of idling while specifically focusing on areas around schools and businesses.The City had originally put forward a motion to wait until it received a full report from NEAT regarding its education and awareness campaign before considering a bylaw. NEAT is expected to be finished its campaign by December 2011. However, several councillors said they did not feel they should have to wait until the campaign is complete to consider a possible bylaw.Advertisement Council voted against the proposed motion and instead passed an alternate option that city staff would “investigate and draft an Anti-idling Bylaw for the City” to be prepared by April 30.Mayor Bruce Lantz brought up potential problems regarding enforcing this type of bylaw. Lantz said the City would have to increase the number of bylaw officers it has to ensure the bylaw is enforced. However, Councillor Dan Davies said he believes that just because the City may not have enough bylaw officers to catch every idling vehicle that it should be prevented from implementing an anti idling bylaw.Davies said one possible option is for the City to use a complaint-based system to catch idling vehicles.Although both Prince George and Dawson Creek currently have anti idling policies – without strict enforcement – city staff told Council that most of the communities in the province that have anti idling bylaws are not located in the north.Advertisement Update – Below is a full copy of the debate City Council had on the idea of an anti idling bylaw.  – Advertisement –Get Microsoft Silverlight Note: Please disregard the first page of the “Diesel Idling Myths and Facts” attachment. According to city staff, if Council approves an anti idling bylaw, it will be the first municipality in northern B.C. to do so.Below are copies of questions and answers regarding vehicle idling and idling myths and facts regarding diesel engines that were provided to city councillors.last_img read more