General Fund Receipts Up 3.8% in August

By: Associated Press
By: Associated Press

FRANKFORT, Ky. (AP) -- A top adviser to Gov. Steve Beshear is reporting that General Fund receipts rose modestly in August.

State Budget Director Jane Driskell said Tuesday that collections were up 3.8 percent to $663.7 million for the month.

Driskell said the increase was due largely to a spike in revenue from the sales tax and the income tax. She said robust construction activity across the state is likely responsible.

Driskell's monthly report to Beshear and the Legislature showed a 4.1 percent increase in income tax collections and a 5.8 percent increase in sales tax revenue in August. Income from those sources offset a 42.2 percent decline in property tax revenue in August, a 21.4 percent decline in coal severance tax collections and an 11.7 percent fall in cigarette tax revenue.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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