KY Budget Director Says Revenue is Up

State Budget Director Mary Lassiter said July revenue of $693 million was up nearly 7 percent compared with July 2010.

Lassiter said revenue collections have increased during the past five quarters thanks to a strengthening of the state economy.

A group of state economists predicted last week that General Fund revenue will exceed budgeted levels by some $192 million by the end of the fiscal year.

Individual income tax revenue increased 11.5 percent in July, and sales tax revenue rose 6.8 percent.

Revenue from a tax on mined coal jumped more than 18 percent for the month, an indication of growth in the state's mining industry.


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