Investor Presentaiton

Background The coincident indicator for Rhode Island was downloaded from the Philadelphia Fed's website and used as the measure of Rhode Island economic activity. • Due to data access limitations, the period covered by the analysis is generally from 1994:Q3 through 2013:Q2. Quarterly data is used to the greatest extent possible. The charts in the presentation look at year-over-year growth rates in revenues, sources of income and the Rhode Island coincident index. To the extent possible adjustments have been made to the data to account for anomalies in the data. September 30, 2013 FTA Revenue Estimation and Tax Research Conference 3

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