By Rebecca Feldhaus
Frankfort, KY – Cautiously optimistic. That's how Kentucky Senate budget chief Bob Leeper is greeting news of a possible budget surplus this fiscal year. State Budget Director Mary Lassiter says if current growth rates continue, the commonwealth could realize a $58 million surplus. But Senator Leeper says that doesn't mean the state should go on a spending spree.
"Ms. Lassiter was very cautious in her presentation and stated that it would require a continuation of that revenue growth to maintain those numbers. And she also pointed out that not all that money goes into the General Fund, being coal severance money."
General Fund revenue growth in the first quarter of the current fiscal year was four-point-four percent. The growth rate required to meet the state budget is 4.2 percent. The state Road Fund is also showing healthy growth.