FRANKFORT, Ky. (AP) — Kentucky’s General Fund receipts in August increased 12.5% from a year ago, continuing the strong upswing in revenue collections, the state said.
What You Need To Know
- Kentucky’s General Fund receipts in August increased 12.5% from a year ago
- Revenues for the month totaled $937.7 million, compared to $833.8 million in August 2020
- So far this fiscal year, General Fund receipts have risen 10.4%
- The General Fund pays for most state services, including education, health care and public safety
Revenues for the month totaled $937.7 million, compared to $833.8 million in August 2020, state Budget Director John Hicks reported.
So far this fiscal year, General Fund receipts have risen 10.4%.
The largest revenue sources for the General Fund continue to perform well, paving the way for solid growth in overall tax receipts, Hicks said. He pointed to growth in individual income tax collections and sales tax revenues.
The General Fund pays for most state services, including education, health care and public safety.
State Road Fund revenue grew 5.3% in August and have increased 2.8% for the first two months of the fiscal year, the state reported.