Vermont Business Magazine The General Fund, Transportation Fund and Education Fund all exceeded their respective monthly consensus cash flow target in the state’s March 2026 revenue results. The Personal Income, Gas, Meals & Rooms and Sales taxes all had a strong month.
The state’s three major funds were a combined $282.79 million, exceeding the $263.11 million monthly consensus target by $19.68 million, or 7.5%.
Total General Fund revenues for March totaled $193.45 million, $14.53 million, or 8.1%, above the $178.93 million monthly consensus cash flow target. All major components except the Corporate Income Tax exceeded their targets. The Personal Income and Meals & Rooms taxes continue to drive General Fund performance, with combined receipts $13.84 million above their year-to-date consensus target.
Revenues in the Transportation Fund exceeded the $26.28 million March target by $3.06 million, or 11.7%, yielding $29.34 million. The Gasoline and Diesel taxes were above target for the month and are now ahead of their cumulative targets for the fiscal year.
Monthly Education Fund revenues of $59.99 million were $2.09 million, or 3.6%, above the March cash flow target of $57.9 million. A combined $2.66 million in above-target receipts from the Sales & Use Tax, Investment Income, and the Meals & Rooms Tax offset a $0.57 million underperformance in the Motor Vehicle Purchase & Use Tax and Lottery Transfer. Year-to-date receipts are $5.56 million, or 0.9%, above their $591.7 million consensus target.
According to Secretary Clark: “The March revenues represent the first time this fiscal year that all three funds have simultaneously exceeded their monthly targets. Both the General and Education funds are ahead of their cumulative consensus target, while the Transportation Fund remains slightly more than one half of one percent below target.”
4.20.2026. Montpelier, VT – Secretary of Administration
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Vermont Business Magazine