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.