Press release, Feb. 26, 2004C

Thursday, February 26, 2004

Contact: Office of Communications 404-651-7774

Governor Perdue Announces February Revenue Collections

Atlanta - Governor Sonny Perdue announced today that net revenue collections for the month of February 2004 (FY04) totaled $929,079,000 compared to $946,729,000 for February 2003 (FY03), a decrease of $17,650,000 or -1.9%. The percentage increase year-to-date for FY04 compared to FY03 is 4.0%.
"The February revenue figures reflect that we must continue to be conservative and disciplined with our budget," said Governor Sonny Perdue. "My office will continue to monitor revenues on a day-to-day basis given the seriousness of our current budget situation."
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Georgia Department of Revenue Comparative Net Revenue Collections
(unaudited - 000's)

GENERAL FUND Sales Tax - General Motor Fuel - Gal. & Sales Income Tax - Individual Income Tax - Corporate Tobacco Taxes Alcoholic Beverage Taxes Estate Tax Property Tax Total Taxes
Other Revenues: Peace Officer Training

For the Month Ended

February 2003 (FY
2003)

February 2004 (FY
2004)

465,782

476,040

39,276

66,751

395,495

346,707

5,671

8,221

19,597

16,383

16,063

12,929

7,435

2,415

5,424

7,631

954,743

937,077

$ Change
10,258 27,475 (48,788) 2,550 (3,214) (3,134) (5,020) 2,207 (17,666)

% Change
2.2% 70.0% -12.3% 45.0% -16.4% -19.5% -67.5% 40.7% -1.9%

2,181

1,831

(350)

-16.0%

Other Fees and Sales Total Regulatory Fees & Sales
Net Revenue
GENERAL FUND Sales Tax - General Motor Fuel Tax - Gals. & Sales Income Tax - Individual Income Tax - Corporate Tobacco Taxes Alcoholic Beverage Taxes Estate Tax Property Tax Total Taxes
Other Revenues: Peace Officer Training Other Fees and Sales
Total Regulatory Fees & Sales
Net Revenue
Notes:

(10,195) (8,014)

(9,829) (7,998)

366

3.6%

16

0.2%

946,729

929,079

(17,650)

-1.9%

Year-to-date

FY 2003

FY 2004

3,221,026

3,370,195

312,937

347,090

4,323,464

4,492,553

186,098

152,574

60,589

124,083

90,961

99,688

58,743

31,445

50,271

55,165

8,304,089

8,672,793

$ Change 149,169
34,153 169,089 (33,524) 63,494
8,727 (27,298)
4,894 368,704

% Change
4.6% 10.9% 3.9% -18.0% 104.8% 9.6% -46.5% 9.7% 4.4%

13,911 72,713 86,624

14,126 39,417 53,543

215 (33,296) (33,081)

1.5% -45.8% -38.2%

8,390,713

8,726,336

335,623

4.0%

1. FY 2004 comparative report has changed. Current year totals are reported on the right of prior year.
2. Totals do not include Insurance Premium Tax and Fees and Motor Vehicle License Taxes.
3. Major tax categories are reported. Other taxes and fees are included in "Other Fees and Sales".
4. Other Fees and Sales include taxes that have been deposited in the bank, but the returns have not been processed. It also includes unclaimed property and children's trust fund. 5. In February 2004 Motor Fuel collections included a prepaid state tax on motor fuel (a 4% sales tax previously reported in Sales Tax -General). For comparison purposes, the motor fuel excise tax and prepaid state tax for February 2003 would have been $61.8 million.