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Revenues Up in April, But Not Enough to Avert Deficit

Sergey Kuzmin, 123RF Stock Photo

A modest growth in Kentucky's April tax collections isn’t likely to stop a predicted $113.2 million dollar shortfall when the budget year ends June 30.

State officials announced tax collections grew 1.7 percent in April compared with last year. It's the seventh time tax collections have grown during the first 10 months of the fiscal year.


However, state economists had expected the state to have more money by now and the legislature based the state's spending plan on that prediction. Tax collections will have to grow by nearly 10 percent over the next two months to avoid a shortfall.


If there is a shortfall, Gov. Matt Bevin could order budget cuts or use money from the state's reserve fund to make up the difference.

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