1. TENNESSEE REVENUE ESTIMATES FISCAL YEARS 2009-10 AND 2010-11 Presentation to the State Funding Board Fiscal Review Committee Staff March 24, 2010

2. COMPARED TO WHAT?

3. 3 Percent Change in Sales Tax Collections to Percent Change in TN Employment

4. 4 Personal Savings Rate Relative to Changes in Sales Tax Collections

5. 5 Changes in Stock Market Relative to Changes in Sales Tax Collections

6. 6 Base Analysis for Sales Tax Collections (Year-over-Year Percentage Changes)

7. 7 Schedule Showing 2009-10 and 2010-2011 Revenue Estimates for All Funds by Fiscal Review Staff (ACCRUAL COLLECTIONS) 1) Privilege tax collections are reduced by $10.7 million each year for the earmarked portion of the tax. SCHEDULE 1

8. 8 Schedule Showing Fiscal Review Staff Revenue Estimates for All Funds and the General Fund for Fiscal Year 2009-10 SCHEDULE 2

9. 9 Schedule Showing Fiscal Review Staff Comparison of 2009-10 General Fund Estimates SCHEDULE 3

10. 10 Schedule Showing Fiscal Review Staff Revenue Estimates for All Funds and the General Fund for Fiscal Year 2010-2011 SCHEDULE 4

11. 11 Comparison of 2010-11 General Fund Estimates SCHEDULE 5

12. TENNESSEE REVENUE ESTIMATES FISCAL YEARS 2009-10 AND 2010-11 Presentation to the State Funding Board Fiscal Review Committee Staff March 24, 2010