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Mon June 11, 2012
Kentucky General Fund Revenues Down 2.3% In May
FRANKFORT, Ky. -- Kentucky officials say General Fund receipts fell 2.3 percent in May from the figures a year ago, but they expect fiscal year receipts to reach the budgeted estimate.
May receipts were $733.1 million, down from $750.3 million in May 2011. Overall for the first 11 months of the fiscal year, receipts have grown 3.2 percent to $8.1 billion.
State Budget Director Mary Lassiter's office says the state can meet the official revenue estimate with a decline of as much as 0.4 percent during the final month.
Road Fund receipts were $134 million in May, up 4.7 percent from a year earlier and 6.8 percent for the year to date. Road Fund revenues can fall 8.3 percent for the rest of the fiscal year and meet the official revenue estimate.