Kentucky Officials Expect Budget Shortfall

By: Associated Press
By: Associated Press
More Video...

FRANKFORT, Ky. (AP) -- Kentucky officials said Tuesday the state will likely end the 2014 fiscal year with a multimillion-dollar shortfall.

Democratic Gov. Steve Beshear will have to make budget cuts to balance the budget. House budget chairman Rep. Rick Rand said the governor would likely not call the legislature back for a special session.

State officials won't know the size of the shortfall until next month. But with state revenues falling 2.1 percent in May, Kentucky would need an 11.7 percent increase in June to avoid a shortfall. The fiscal year ends June 30.

State Budget Director Jane Driskell blamed the shortfall on individual income tax collections. The state's largest source of revenue has grown by 0.5 percent this year. State officials expected it to grow by 2.4 percent.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 262600881 - wbko.com/a?a=262600881
Gray Television, Inc.