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Fri July 10, 2009
KY Budget Worse than Expected
By Carrie Pond
Frankfort, KY – Kentucky state government has ended its fiscal year nearly $56 million worse off than estimated just a few weeks ago. State budget director Mary Lassiter says the shortage must be made up. Officials will look for budgeted, but unspent money to make up the difference. Lassister tells The Lexington Herald-Leader there will be a balanced budget when the books are closed on July 17, but it will be tight. She says monthly tax receipt declines outstripped projections made in November. General Fund receipts for June - the last month of the budget year - were off more than 12 percent from a year ago.