FRANKFORT, Ky. (AP) – Kentucky officials say the state’s General Fund tax receipts increased 3.6% in August compared to a year ago.
State Budget Director John Chilton says total revenues for the month were $787.2 million, compared to $759.9 million during August 2018.
Chilton says for the first two months of this fiscal year, General Fund receipts increased 2.7%.
He says the rate of growth for General Fund receipts has moderated from prior-year levels.
The official revenue estimate for this fiscal year calls for revenue to increase 0.6% compared to actual receipts from last year.
Based on August results, General Fund revenues need to grow 0.3% for the remaining 10 months of the fiscal year to meet the official estimate.
Lawmakers will watch revenue trends closely when crafting a new state budget next year.
(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
9/11/2019 4:26:22 AM (GMT -4:00)