A nonprofit publication of the Kentucky Center for Public Service Journalism

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...