General Fund Receipts Increase in Kentucky
Kentucky State Budget Director Mary Lassiter says General Fund receipts rose 3.7 percent in October. That means receipts have increased 2.5 percent over the first four months of the fiscal year and must continue to grow at 2.4 percent for the remainder of the year to meet official revenue estimates.
Lassiter says revenue accounts are experiencing volatility, and the state is closely watching several accounts which have under performed recently. She says the coal sector has been weak, and sales tax collections have been “lackluster” through the first four months of the fiscal year.
Lassiter says vehicle and fuel sales in October helped to boost the state’s Road Fund by 19 percent. Revenue from motor fuels taxes increased 16.2 percent last month.