Budget Shortfall

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A panel of economists has revised downward its prediction of how much Kentucky will make in tax revenue by the end of the fiscal year in June. Gov. Matt Bevin is expected to make cuts to state spending soon.

J. Tyler Franklin

Adding to Kentucky’s financial woes, economists are predicting the state will bring in around $200 million less than originally projected this fiscal year.

J. Tyler Franklin, WFPL

Gov. Matt Bevin has made a combination of spending cuts and fund transfers to fill a more than $152 million budget shortfall after the state didn’t bring in as much money as predicted last during the last fiscal year.

Sergey Kuzmin, 123rf stock photo

Kentucky's state agencies will cut 1% from their budgets to help avoid a $113 million shortfall.

Alexey Stiop, 123rf stock photo

State budget director John Chilton says Kentucky is on track to take in $113.2 million less than predicted by the time the fiscal year ends on June 30, meaning Gov. Matt Bevin might have to take emergency actions to balance the state budget.

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Pointing to strong tax collections, state budget officials say Kentucky will likely avoid another budget shortfall.

Revenues are expected to increase more than 3 percent in the budget year that ends June 30.

Gov. Steve Beshear issued a pair of executive orders this week reducing state spending levels to plug a $90.9-million hole in Kentucky's budget.