Kentucky's General Fund Receipts Rise In August

Sep 11, 2019

Credit Hieng Ling Tie, 123rf stock photo

Kentucky officials say the state's General Fund tax receipts increased 3.6% in August compared to a year ago.

 

State Budget Director John Chilton says total revenues for the month were $787.2 million, compared to $759.9 million during August 2018. Chilton says for the first two months of this fiscal year, General Fund receipts increased 2.7%. He says the rate of growth for General Fund receipts moderates from prior-year levels. The official revenue estimate for this fiscal year calls for revenue to increase 0.6% compared to actual receipts from last year. General Fund revenues based on August results need to grow 0.3% for the remaining 10 months of the fiscal year to meet the official estimate. Lawmakers will watch revenue trends closely when crafting a new state budget next year.