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." # # # 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.