A nonprofit publication of the Kentucky Center for Public Service Journalism

Buoyed by strong growth in sales, tax receipts, General Fund increases 7.6 percent in August

Kentucky’s General Fund receipts increased 7.6 percent in August compared to last year, State Budget Director Jane Driskell announced today. Total revenues for the month were $722.9 million, compared to $672.0 million during August 2014, an increase of $50.9 million. So far this fiscal year (FY16), General Fund receipts have increased 5.7 percent.   In a press release, Driskell noted that...

More than $520M in state funds needed to beef up teachers’ pension fund, board told

The Kentucky Teachers Retirement System pension fund will need an additional $520.4 million in state contributions to be fully funded next fiscal year, a state pension oversight board heard today.   The $520.4 million is in addition to around $380 million paid out to KTRS from the state General Fund this fiscal year, state Deputy Budget Director John Hicks told the Public Pension Oversight Board....

More than $520M in state funds needed to beef up teachers' pension fund, board told

The Kentucky Teachers Retirement System pension fund will need an additional $520.4 million in state contributions to be fully funded next fiscal year, a state pension oversight board heard today.   The $520.4 million is in addition to around $380 million paid out to KTRS from the state General Fund this fiscal year, state Deputy Budget Director John Hicks told the Public Pension Oversight Board....

General Fund receipts up 4% in first month
of FY16; Road Fund receipts also increase

  State Budget Director Jane Driskell announced today Kentucky’s General Fund receipts for July, the first month of Fiscal Year 2016, totaled $733.8 million, a 4.0 percent increase compared to July 2014 receipts.   The official revenue estimate for FY16 calls for revenue to rise 1 percent compared to FY15 actual receipts. Based on July’s results, General Fund revenues need to increase...

Bolstered by a strong June, state’s General Fund receipts rose for fifth straight year

  When it comes to Kentucky’s economy, there appears to be good news and … well … more good news.   The latest bit of good news came when State Budget Director Jane C. Driskell reported that Kentucky’s General Fund receipts rose for the fifth consecutive year, primarily due to the strength of income and sales taxes.   For the fiscal year that ended June 30, 2015...

General Fund growth in November a ‘positive sign’ of state’s improving economic conditions

Kentucky General Fund receipts grew 12.8 percent in November, compared to last year, with total revenues for the month at $905.7 million, Budget Director Jane Driskell reported. That’s an increase of $102.8 million from November 2013.   “Sales and individual income taxes account for the majority of November’s increase,” Driskell said in a press release. “We are pleased with...

State revenue is $90.9M less than estimates; officials deciding how to deal with shortfall

Kentucky’s General Fund receipts for the fiscal year that ended June 20 were $90.9 million – or 1 percent, less than the official revenue estimate that projected 2.2 percent growth in revenues, Budget Director Jane Driskell reports.   Receipts for June were $979.1 million, 2.2 percent more than what was collected last June. For FY 14, the General Fund quarterly growth rates were 3.3...

Decision to expand health coverage ensures 308,000 more Kentuckians have access

Calling it “the single-most important decision in our lifetime for improving the health of Kentuckians,” Gov. Steve Beshear today announced the inclusion of 308,000 more Kentuckians in the federal Medicaid health insurance program. The expansion, together with the creation of the Health Benefit Exchange, will ensure that every Kentuckian will have access to affordable health insurance.   The...

Mayor Jim Gray announces mid-term appointments, including first woman CAO

Stressing the importance of strong leadership for the city, Mayor Jim Gray today announced seven mid-term permanent and temporary staff appointments, moving a woman into Lexington’s top management position, a first for the city.   “This city needs and deserves exceptional, experienced leadership,” Gray said. “We’ve learned a lot in the past two years about the talents and abilities of...