By Tony McVeigh
Frankfort, KY – First quarter General Fund revenue growth was 4.4 percent. It was the second consecutive quarter of growth, and a sign the state continues to emerge from the recession. The state needs a growth rate of 4.2 percent to balance the budget, says State Budget Director Mary Lassiter.
"My message to you today is we're on track to meet that, as of today. That being said, we're early in the fiscal year. We're one quarter on the books."
Lassiter says most taxes gathered steam heading into Fiscal '11, especially corporate income, coal severance and lottery proceeds. She says the Road Fund is also showing a robust recovery, with motor fuels tax collections leading the way.