Tuesday, January 10, 2012

State Receipts Up

General Fund and Road Fund revenues increased in December over the same month last year. The General Fund was up 6.9% (December) up 3.1% (6 months of fiscal year) and need to increase on average 2.6% over the next 6 months to meet the revenue forecast of 2.8% increase. The Road Fund was up 13.3% (December) up 7.4% (6 months) and need to increase on average 3.7% over the next 6 months to meet the revenue forecast of 5.5% increase.

The big takeaway from this receipts report is how Kentucky's revenues are growing as the Consensus Forecast Group predicted, but due to the fact that Kentucky is running a significant budget deficit, it will not be enough to offset the loss of one time monies, like Federal stimulus funds. This will make the Governor's Budget address on January 17 even more interesting.

A full copy of the revenue report is available for download HERE.

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