Kentucky Budget Surplus Less Likely

By: Associated Press
By: Associated Press
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Kentucky

MGN Online

FRANKFORT, Ky. (AP) -- Kentucky's general fund tax revenues increased 2.4 percent in March - enough to ward off a deficit but not enough to promise a surplus.

State Budget Director Jane Driskell announced the state collected $753.5 million in March, a $17.7 million increase from last year. State officials predicted Kentucky's revenues would grow 2.1 percent in the 2014 budget year that ends June 30. For that to happen, revenues must grow 3.9 percent in the next three months.

Driskell said she is confident the state will meet the estimate but said a surplus is becoming less likely.

Road fund revenues increased $22.8 million in March, an increase of 19.9 percent. Road fund collections must increase an additional 2.7 percent over the next three months in order to meet the estimate.

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 This material may not be published, broadcast, rewritten or redistributed.)


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