The Tennessee State Funding Board will meet on Tuesday to hear economists' revenue estimates for the upcoming budget year.
Following their predictions, the governor selects a number within the range in constructing the budget. Last month, finance officials reported that the state's general fund revenues fell $97 million short of projections in the first quarter of the state's budget year.
Corporate franchise and excise tax collections came in at $352 million, or $87 million below the budgeted estimate, and a 14% drop from the same year-ago period.
Gov. Bill Haslam says that preliminary numbers for Thanksgiving sales were "mediocre."
However, despite the numbers, he says he still has confidence in the state's economy.