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Thu August 22, 2013
State Budget Director: "Bumpy" Recovery Continues
FRANKFORT, Ky. - Kentucky ended the 2013 fiscal year with a $70.6M General Fund surplus, but State Budget Director Jane Driskell says the recovery continues to be “bumpy.” Driskell told a Joint Committee on Appropriations and Revenue Thursday that the state saw modest General Fund growth, exceeding analyst expectations by $40M.
Five agencies classified as being in “fiscal difficulty” included the three that saw budget shortfalls of more than $5M: the Kentucky State Police, the Department of Parks and the Kentucky State Fair Board.
The committee also heard from Bell County Judge Executive Albey Brock, who argued that declines in the coal severance tax receipts warrant a change in the formula the state uses to dispense the funds to coal-producing counties. Brock said cuts in general services in those areas do affect the bottom line in places such as Lexington and Louisville.
"We're buying our cars there, we're buying our Christmas [gifts] there... We eat in Lexington and Louisville, so a lot of that money is impacting those outside of the coal counties," Brock said.
Two other funds that fell short of projections were Sales and Use and Cigarette Tax receipts.