By Tony McVeigh
Frankfort, KY – State Budget Director Mary Lassiter says General Fund revenue collections in October rose a healthy 8.1 percent, compared to last year. That means revenue receipts for the remainder of the current fiscal year must rise only 3.7 percent to meet the official revenue estimate for a balanced state budget.
Road Fund receipts last month also showed strong growth, rising more than 12 percent over last year's collections.
Lassiter says the October numbers are not surprising, because strong revenue growth in the first half of the fiscal year was predicted and budgeted.
She doubts the October growth rate is sustainable going forward, but says the state "is pleased to see that tax revenues are responding very favorably to the slow but steady recovery from the national recession."