A nonprofit publication of the Kentucky Center for Public Service Journalism

January General Fund receipts increase 9.2 percent over last year; Road Fund receipts up 4.2 percent

State Budget Director John Hicks reported that January’s General Fund receipts grew 9.2 percent compared to January of last year, an increase of $85.1 million. Receipts were boosted by the largest ever monthly collection of sales and use tax receipts. Receipts have grown 3.6 percent for the first seven months of fiscal year 2020 (FY20). The official revenue estimate calls for 1.6 percent growth in...

December General Fund receipts decline 4.1 percent from a year ago; Road Fund receipts up 4.2 percent

The state budget director reported Friday that December’s General Fund receipts totaled $1,084.3 million, a 4.1 percent decline compared to December of last year. Receipts have increased 2.7 percent for the first six months of the fiscal year that ends June 30, 2020. Second quarter collections rose 4.1 percent, which is an improvement over first quarter collections which rose 1.1 percent. The official...

State budget director reports General Fund receipts rose 7.6 percent in November compared to 2018

State Budget Director John Chilton has reported that General Fund receipts rose 7.6 percent in November compared to last year. Total revenues for the month were $1,046.1 million, compared to $972.6 million during November 2018, an increase of $73.5 million. Receipts have now risen 4.4 percent for the first five months of the fiscal year, and can decrease 1.9 percent over the final seven months of FY20...

State budget director reports October General Fund receipts rose 11.5 percent over last year’s total

State Budget Director John Chilton reported Tuesday that October’s General Fund receipts rose 11.5 percent, or $94.7 million, over last year’s total. Revenues for the month were $920.7 million compared to $826.0 million collected in October 2018. Receipts have increased 3.6 percent for the first four months of the fiscal year and can decline 0.7 percent during the final eight months of FY20 to...

Kentucky’s General Fund receipts for July totaled $845.7 million, a 1.9 percent increase from a year ago

State Budget Director John Chilton announced Monday that Kentucky’s General Fund receipts for July, the first month of Fiscal Year 2020 (FY20), totaled $845.7 million, a 1.9 percent increase compared to July 2018 receipts. Increases in the sales and use tax and cigarette taxes out-paced declines in the income, natural resources and property taxes as the impacts of tax law changes continue to influence...

Economists’ panel says state will face a budget shortfall of $155 million, less than originally forecast

By Tom Latek Kentucky Today Kentucky taxpayers are looking at a shortfall of more than $155 million after a panel of state economists revised the state’s official revenue forecast Friday. The panel predicted a smaller deficit because Kentucky collected more tax money than it had expected in the past three months. In August, the Consensus Forecasting Group issued a preliminary estimate predicting...