Kentucky Reports Higher General Fund Revenues In August
Kentucky budget officials say revenue collections continued to show resiliency despite the ongoing fight against the coronavirus.
State budget Director John Hicks said Thursday that General Fund receipts in August increased 5.9% compared to the same period a year ago. He says revenues for the month totaled $833.8 million, compared to $787.2 million during August 2019.
So far, General Fund receipts have increased 6.5% in the current fiscal year, which began in July. The General Fund pays for most state services, including education, health care and public safety. Hicks says receipts rebounded after recent months of significantly lower tax collections due to COVID-19.