KY General Fund Receipts Rise In September
An increase in tax collections in September has provided a needed boost to the Kentucky’s General Fund, which had been struggling with flat revenues in recent months.
State Budget Director Jane Driskell said yesterday that General Fund receipts were up 4% last month compared with a year ago. Revenue topped $920 million, compared with $885 million in September 2012.
The growth came from the state's top revenue producers, including sales, income and property taxes.
Sales tax revenue, which had been in a slump for most of the year, posted its second consecutive monthly increase. Driskell also reported 23 percent growth in Road Fund revenue for the month.
Fuel tax collections were up more than 20 percent. Collections from motor vehicle usage fees increased more than 31 percent.