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...

State Budget Director provides details on revenues for fiscal year ending June 30; surplus is $194.5m

The Office of State Budget Director reported that annual Kentucky’s General Fund receipts rose for the ninth consecutive year while Road Fund collections have increased in each of the last three years. For the fiscal year ending June 30 (FY19), General Fund receipts totaled $11,392.7 million, which is a 5.1 percent increase over FY18 collections.  Final FY19 General Fund revenues exceeded the official...

Kentucky General Fund receipts surge ahead 10.7 percent in April with revenues of $1,289.9 million

State Budget Director John Chilton has reported that General Fund receipts surged ahead 10.7 percent in April with revenues of $1,289.9 million. April’s receipts compare favorably to the $1,165.3 million collected in April 2018. Through the first 10 months of FY19, the General Fund has grown 4.8 percent. Receipts reached a new all-time peak in April, besting the previous record by $124.6 million. The...

General Fund receipts decline 3.4 percent in January, while Road Fund receipts rise 2.5 percent

State Budget Director John Chilton reported Monday that General Fund receipts fell 3.4 percent in January with revenues of $924.6 million. January’s receipts declined modestly compared to the $956.8 million collected in January 2018. Through the first half of FY19, the General Fund has grown 2.6 percent. The official General Fund revenue estimate for FY19 calls for revenue to grow 3.3 percent compared...

Chilton: General Fund receipts fell 0.8 percent in December, but Road Fund receipts rose 3.5 percent

State Budget Director John Chilton has reported that General Fund receipts fell 0.8 percent in December with revenues of $1,131.1 million. December’s receipts declined marginally compared to the $1,140.0 million collected in December 2017.  Through the first half of the fiscal year (FY19), the General Fund has grown 3.7 percent.  The official General Fund revenue estimate for FY19 calls for revenue...

Chilton reports General Fund receipts rose 7.1 percent in November, with revenues of $972.6 million

State Budget Director John Chilton reported Monday that General Fund receipts rose 7.1 percent in November with revenues of $972.6 million. November’s receipts compare favorably to the $907.8 million collected in November 2017. Through the five months of the fiscal year (FY19), the General Fund has grown 4.8 percent. The official General Fund revenue estimate for FY19 calls for revenue to grow 3.3...

State budget figures show 4.3 percent increase in revenue in first two months of fiscal year

By Tom Latek Kentucky Today There was more good news for state revenues in the first two months of the 2019 fiscal year. Figures released by State Budget Director John Chilton on Monday show General Fund receipts increased 4.3 percent in August compared to last year. Total revenues for the month were $759.9 million, compared to $728.3 million during August 2017. So far in the fiscal year, General...

Kentucky’s General Fund receipts for July totaled $830.2 million, a 4.7 percent increase from 2017

State Budget Director John Chilton has announced that Kentucky’s General Fund receipts for July, the first month of Fiscal Year 2019, totaled $830.2 million, a 4.7 percent increase compared to July 2017 receipts. The official revenue estimate for FY19 calls for revenue to grow 3.3 percent compared to FY18 actual receipts. Based on July’s receipts, General Fund revenues need to increase 3.2 percent...

Budget director to call on Cavanaugh Macdonald to redo Teacher Retirement System pension bill analysis

State Budget Director John Chilton will call upon Cavanaugh Macdonald to redo its analysis of the Teacher Retirement System (TRS) pension bill utilizing a more appropriate set of assumptions for comparative purposes. Cavanaugh Macdonald’s initial analysis of the current pension proposal uses assumptions that are very different from those in its annual valuation reports, including significant changes...