Flooded Building Forces Funding Board to Temporarily Forgo New Revenue Forecasts

Officials who decide how much the state should expect to collect in tax revenue each year put off making those predictions today, citing this week’s closure of Tennessee Tower for delaying the numbers.

Tennessee Funding Board members adjourned after a nearly 30-minute meeting Thursday without choosing a future meeting date to discuss the revenue estimates which play a key part in writing each year’s state budget.

A spokesman for Comptroller Justin Wilson, who chaired the board, said closures at Tennessee Tower have delayed staff from hashing out the differences in revenue estimates pitched by economists earlier this month. Those staff members are then to report recommendations to their respective board member to help them decide a reasonable range.

But with Tennessee Tower — where those staffers are stationed — evacuated Tuesday and closed Wednesday and Thursday, officials have been unable to crank out the revenue estimates, spokesman Blake Fontenay said.

With the approaching holidays coming up next week, Fontenay said he is unsure whether the state funding board would attempt to meet again later this month or wait until the new year to decide on a revenue range.