Road Fund

Public Domain

After years of dwindling returns, revenue into Kentucky’s road fund was higher than expected during the fiscal year that ended on June 30.

Matt Markgraf, WKMS

Note: Some updated information from a follow-up message added to the article.  

The Kentucky Transportation Cabinet is forming a road project prioritization model called the "Strategic Highway Investment Formula for Tomorrow" - or SHIFT - in an effort to shore up funding, and offer certainty for, the ailing road fund. KYTC Chief of Staff Asa James Swan outlined the plan, discussed the cabinet's financial issues and suggested reforms at a West Kentucky Regional Chamber Alliance meeting in Benton on Thursday. 

Public Domain via WFPL

As Kentuckians continue to enjoy low gas prices, the state’s road fund has suffered because of lost revenue from the motor fuels tax.

KYTC Public Information Officer Keith Todd

Kentucky’s transportation cabinet has announced that it will pause new road projects over the next fiscal year starting July 1.

The state's top budget official is reporting an 8.3 percent increase in General Fund revenue in May, largely thanks to improved collections from the sales tax, individual income taxes and property taxes.

Budget Director Jane Driskell released a monthly revenue report on Monday. The report showed property tax collections increased by 75.2 percent in May. Individual income tax receipts rose by 8.3 percent. And sales tax receipts were up 5.2 percent.

Kentucky General Fund Receipts Fall

Jun 12, 2012

Kentucky officials say General Fund receipts fell about $17 million dollars, or 2 and a third percent in May from figures a year ago.