A nonprofit publication of the Kentucky Center for Public Service Journalism

Kentucky General fund receipts increase in February, up 5.6 percent for year; road fund declines slightly

The Office of State Budget Director reported today that February’s General Fund receipts rose 4.6 percent compared to February of last year, an increase of $40.2 million. Total revenues for the month were $924.2 million, compared to $884.0 million during February 2020. Receipts have now grown 5.6 percent for the first eight months of FY21. The official revenue estimate calls for 1.4 percent revenue...

Budget Director reports January General Fund increase of 6.6%, decrease in Road Fund of 3.2%

The Office of State Budget Director reported today that January’s General Fund receipts grew 6.6 percent compared to January of last year, an increase of $68.4 million. The sales, income, business and property taxes all had significant increases and helped boost total collections. Revenues for the month were $1,076.3 million, the highest ever recorded for the month of January and sales tax collections...

General Fund receipts in December increase by $1,258,755,431, second-highest monthly total ever

State Budget Director John Hicks reported Friday that December’s General Fund receipts reflected the second-highest monthly total ever, $1,258,755,431, a 16.1 percent increase compared to December of last year. Total revenues rose by $174.4 million over last December, with increases in all the major taxes: individual income, sales, business and property taxes. December is one of the three largest...

State Budget Director: October General Fund receipts in Kentucky rise 3.0 percent in past year

State Budget Director John Hicks reported Tuesday that October’s General Fund receipts rose 3.0 percent, or $27.7 million, over last year’s total. Almost half of the increase was due to early payments of tangible property tax. Revenues for the month were $948.4 million compared to $920.7 million collected in October 2020. Receipts have increased 5.1 percent for the first four months of the fiscal...

General Fund receipts increase 4.8 percent in September; Road Fund remains unchanged

State Budget Director John Hicks reported today that General Fund receipts rose 4.8 percent in September with revenues of $1,115.4 million. This compares to $1,064.5 million collected in September 2019. So far this fiscal year (FY21), the General Fund has grown 5.8 percent. September closes out the first quarter of the fiscal year and collections have rebounded from the fourth quarter of FY20 in...

General Fund receipts increase 5.9 percent in August compared to last year; up 6.5 percent in FY21

State Budget Director John Hicks reported Thursday that General Fund receipts increased 5.9 percent in August compared to last year. Total revenues for the month were $833.8 million, compared to $787.2 million during August 2019. August receipts have reflected the smallest share of yearly amounts over the last five years. So far this fiscal year (FY21), General Fund receipts have increased 6.5 percent. Road...

Kentucky’s General Fund receipts for July up 7.0 percent from a year ago; totaled $905.1 million

State Budget Director John Hicks announced Monday that Kentucky’s General Fund receipts for July, the first month of Fiscal Year 2021 (FY21), totaled $905.1 million, a 7.0 percent increase compared to July 2019 receipts. Collections for the month were surprisingly strong given the general slowdown in consumer spending arising from the uncertainty of the novel coronavirus. The official revenue estimate...

State Budget Director reports General Fund receipts drop precipitously (33.6 percent) in April

State Budget Director John Hicks reported Wednesday that April’s General Fund receipts dropped precipitously due to the impact of the novel coronavirus and the movement of the income tax filing deadline to July 15. Collections fell 33.6 percent, or $432.9 million, compared to April of last year. Nearly 90 percent of the decline was from individual and corporate income taxes. Total revenues for the...

Kentucky facing budget shortfall of nearly $500 million due to conditions caused by pandemic

By Tom Latek Kentucky Today A report issued Thursday by the state budget director’s office shows a potential general fund revenue shortfall of $318.7 to $495.7 million for the 2020 fiscal year that ends June 30, due to conditions caused by the coronavirus. In the Quarterly Economic and Revenue Report for the third quarter of fiscal year 2020, state Budget Director John Hicks said, “The revenue...

March General Fund receipts increase 6.8 percent over last year; Road Fund receipts up 6.0 percent

State Budget Director John Hicks reported that March’s General Fund receipts grew 6.8 percent compared to March of last year, an increase of $56.0 million. Total revenues for the month were $876.1 million, compared to $820.1 million during March 2019. Receipts have now grown 3.9 percent for the first nine months of FY20. The revenue estimate for FY20 approved by the Consensus Forecasting Group in...

General fund, road receipts rise in February; General fund up 3.5 percent in first eight months of fiscal year

State Budget Director John Hicks reported today that General Fund receipts climbed 2.9 percent in February with revenues of $884.0 million compared to the $859.4 million collected in February 2019. Through the first eight months of FY20, the General Fund has grown 3.5 percent. The official General Fund revenue estimate for FY20 calls for revenue to grow 1.6 percent compared to FY19 actual receipts....

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...

Governor-elect Andy Beshear makes high level staff appointments, including Cameron to AG vacancy

By Tom Latek Kentucky Today Gov.-elect Andy Beshear has announced more high level staff appointments. • La Tasha Buckner, who was named earlier as general counsel, will also serve as his Chief of Staff. • Holly McCoy-Johnson was chosen as Secretary of the Finance Cabinet. • Tom Miller, a former State Revenue Commissioner for eight years, will be returning to that post. • Mike Berry, who recently...