Economists Revise State Revenue Projections

Frankfort, KY – The economists who compile Kentucky's official
revenue projections have revised their forecast.
They say revenues for the rest of fiscal year 2004
will fall short of budget needs by 261 million dollars.

The revision is significant in part because it
triggers Governor Fletcher's authority to transfer
money among various state accounts to avoid a
deficit. State Budget Director Brad Cowgill says
Governor Fletcher plans to transfer about two
hundred million dollars from trust accounts to the
general fund.

Kentucky's fiscal year ends June 30th.