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Flat Growth in State Budget Causing Some Concerns

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"Money" by Tax Credits, Flickr Commons, (CC BY 2.0)
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State budget officials say they are paying close attention to revenue as the state budget sees a flat growth at the start of the fiscal year.

Budget director Mary Lassiter says in her monthly briefing that August revenues ticked up, helping make up 2 percent of losses in July. But that leaves revenues flat, while forecasters had expected an almost 3 percent growth this year.

Lassiter says while warning alarms aren'?t going off yet, steady declines in income and sales taxes is giving her office causes for concern.

The state budget year runs from July to June, giving the state until next summer to make up the flat growth.

Kenny Colston is the Frankfort Bureau Chief for Kentucky Public Radio (a collaborative effort of public radio stations in Kentucky). Colston has covered Kentucky's Capitol and state government since 2010. He is a Louisville native, and a graduate of the University of Kentucky. When he's not tracking down stories about Kentucky politics, you can often find him watching college sports, particularly football.
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