By Todd Hatton/AP
Frankfort, KY – Kentucky's General fund receipts were down by just over 3 percent over an 11-month period ending in May. Even so, state Budget Director Mary Lassiter says revenues have begun showing some positive signs, which economists had predicted last December.
The state economists targeted April through June as a period when revenues would begin to reflect the beginning of an economic recovery. Lassiter says many key revenue sources are now trending that direction.
May revenue receipts rose by 19 million dollars over last year and road fund receipts increased by over 16 and a half percent from May 2009. Revenues from the sales and use tax rose just over a percent in May, and individual income tax collections rose by almost 2 and a half percent.