Montgomery, AL – A state report shows that tax collections for the Alabama Education Trust Fund rose 4.3 percent for the period of October through December as compared to the same period a year earlier.
The state finance department released the report Tuesday. The fund, which is the main source of state tax dollars for public schools and colleges, collected $1.35 billion during the first three months of Alabama's 2012 fiscal year. That's an increase of $55.3 million from the same period a year earlier.
Most of the money came from state income tax and sales tax collections.
To reach this year's spending target of $5.59 billion, the trust fund's revenues would need to grow by $250 million.
(Copyright 2012 by The Associated Press. All Rights Reserved.)