NASHVILLE (AP) — Revenue collections are showing continued improvement in Tennessee's finances, but the state panel responsible for setting projections for the next budget year has punted that task for another month.

The State Funding Board was supposed to release its projections for the upcoming spending year in December, but blamed a water leak in a state office building for delaying until January.

But at Thursday's meeting, the panel agreed to put off the estimates until next month so it can incorporate holiday shopping activity in December and give the administration of Republican Gov.-elect Bill Haslam a say in the projections after he takes office.

General fund collections were $34 million above projections in December, which reflects economic activity in the previous month. Revenue collections for the year to date stand at $78 million above estimates.