1950] OF THE SENATE. 9

Revised Estimated Surplus June 30, 1951, before tax

reduction .................................... f 8,311,925.27

Less: Estimated Loss from proposed sales tax reduc-
tion effective Dec. 1, 1950, 52% of 17,000,000.00.. 3,640,000.00

Revised Estimated Surplus June 30, 1951, after tax

reduction ....................................$4,671,925.27

You will bear in mind that the effect of the tax reductions now
proposed will of course be carried forward through the fiscal year
ending June 30, 1952, with the result that the estimated surplus
as of June 30_? 1951, in the amount of $4,671,925.27 will at the end
of the following fiscal year on June 30, 1952, be reduced to
1709,055.02.

The picture for the fiscal year 1952 is as follows:

1952 Adjustments
Estimated Revenues 1952

1951 Revenue Estimates (Fiscal Digest) $73,153,328.75
Plus: Estimated increases over 1951

Sales and Use Tax..... 14,500,000.00

Income Tax .......... 3,999,500.00

Alcoholic Beverages .. 725,000.00
All Other ............ 500,000.00

———————— $9,724_?500.00

Estimated Revenues 1952 Fiscal Year.............. $82,877,828.75

Estimated Total Available........................ $87,549,754.02

Appropriations:

Actual 1951 Fiscal Year............. $80,340,699.00

Less: Estimated Reversions.......... 500,000.00

———————— 79,840,699.00

Estimated Surplus June 30, 1952, before proposed

Tax Eeduction ..............................$7,709,055.02

Less: Estimated Loss from proposed Sales Tax Re-
duction 1952 Fiscal Year...................... 7,000,000.00

Estimated General Fund Surplus June 30, 1952.......$ 709,055.02

Eecommendations for further tax reductions are not made be-
cause the new administration will be faced with requests for
additional appropriations which will include not only requests for