Kentucky opens fiscal year with strong revenue collections

Kentucky
Kentucky State House_-5155069746899956723

FRANKFORT, Ky. (AP) — Kentucky’s surging revenue collections continued during the first month of the new fiscal year.

State budget Director John Hicks says General Fund receipts for July totaled $981.5 million. That’s up 8.4% from the same month a year ago.

He said Tuesday that the $76.4 million increase in revenues was concentrated in the sales tax and business taxes, though most major revenue categories increased. Sales tax revenues grew 7.5% last month.

The General Fund pays for most state services, including education, health care and public safety. Road Fund revenues for July totaled $137.9 million, up slightly from last July.

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