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April 13, 2021
• Prudent and cautious approach
• Return to pre-pandemic priorities
• Invest in what works
• Deliver critical services while not growing government
• Long-term strategic investments
Revenues & Expenditures Recurring Non-Recurring
Available Additional Revenues $903,120,000 $1,671,274,600
Reductions & Reallocations $185,790,500 $0
Cost Increases & Base Adjustments
($812,828,500) ($1,945,390,800)
Balance $276,082,000 ($274,116,200)
0.0
5.0
10.0
15.0
20.0
25.0
Motor vehicles and
parts
Furnishings and
durable household
equipment
Other durable goods Durable goods Recreational goods
and vehicles
William F. Fox • http://cber.haslam.utk.edu
Available Funding RecurringNon-
Recurring
Agency Reversion on June 30, 2021 $398,221,700
Reversion of COVID-19 Response Funding
$100,000,000
Non-Tax Revenues $35,000,000 $47,000,000
Balance $35,000,000 $545,221,700
Highlights
Mental Health Trust Fund
$250,000,000
Summer Education Transportation
$18,500,000
Governor’s Early Literacy Foundation
$2,055,300
Highlights
Elimination of the TCAT Waitlist
$79,380,000
Transfer to Tennessee Promise
$25,000,000
Additional Agriculture Extension Agents
$4,190,000
Highlights
Radio Replacement $17,672,000
Dynamic System Resiliency
$18,000,000
Homeland Security Agents $680,800
Firearm Safety Program $500,000
Highlights
ECD Projects $55,000,000
Historic Preservation Grants
$5,000,000
Small Business Innovation Research
$3,000,000
Recurring Aviation Funding
$3,000,000
Proposals
Grocery Two-Week Sales Tax Holiday
$25,000,000
Restaurants and All Prepared Food Two-Week Sales Tax Holiday
$75,000,000
Reduce Professional Privilege Tax 25 Percent
$16,912,300
Local Recovery and Rebuilding
– $200 million investment
– Goal to facilitate economic stimulus
– Award no later than Jan 1 to permit review of federal funds and adjust guidelines
Broadband
– $200 million investment
– Goal to serve all communities
– Federal funds will have unknown strings attached
– Ability to reimburse ourselves
$17.8 $19.2 $21.1
$14.2$19.3 $15.5
$6.1
$6.3$6.0
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
FY20Actual
FY21Budgeted
FY22 Recommended
Bill
ion
s
Other
Federal
State
$44.9$42.6
$38.1
• Prudent and cautious approach
• Return to pre-pandemic priorities
• Invest in what works
• Deliver critical services while not growing government
• Long-term strategic investments