Ky. Fiscally Fit Despite Nationwide Economic Woes

By: Associated Press Email
By: Associated Press Email

FRANKFORT, Ky. (AP) -- September was a good month for Kentucky's budget, despite gloomy economic indicators nationally.

State Budget Director Mary Lassiter said General Fund receipts totaled $840 million in September. That's up 10 percent from the $763.7 million banked in September 2010.

Road Fund revenue was up 5.9 percent for the month, totaling $115.3 million.

The rebound came after a sharp decline in state revenues in August.

Lassiter said several nearby states also saw revenues rebound in September, including Arkansas, Indiana, North Carolina and West Virginia. She said Kentucky's revenue base seems to be holding up well despite volatility on the national level.

Corporate income tax revenue grew 27 percent for the month. Sales tax revenue was up 13.7 percent. And individual income tax revenue rose 5.3 percent.

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