Tuesday, July 10, 2012

General Fund Revenues Exceed Projections

{Frankfort, Kentucky}...Budget Director Mary Lassiter said Tuesday the state's General Fund tax revenue for the fiscal year that ended June 30th was $83 million more than expected. Lassiter said she hasn't yet determined if the state ended the fiscal year with a budget surplus because all expenditures for the year haven't yet been accounted for. If there is a surplus, Lassiter said the money would be applied to necessary government expenses or deposited in the state's rainy day fund.