Budget Chief: KY Closed Fiscal Year with Surplus

By: Associated Press
By: Associated Press

FRANKFORT, Ky. (AP) -- Financial ledgers show the state finished last year with a $70.6 million surplus.

Budget Director Jane Driskell said Friday the General Fund surplus was the result of slowed spending by government agencies and a small bump in revenue.

Driskell warned that the coming fiscal year will be another austere one because revenue growth isn't keeping pace with rising costs.

Of the surplus, Driskell said $45 million will be used to cover necessary government expenses this fiscal year and $25.6 million will go into the state's Budget Reserve Trust Fund, often referred to as the rainy day fund.

Driskell said the Road Fund had a $17.7 million surplus.

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 This material may not be published, broadcast, rewritten or redistributed.)

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 216192671 - wbko.com/a?a=216192671
Gray Television, Inc.