State books close with surplus

FRANKFORT, Ky. (AP) - Kentucky's top budget official says the
state closed the books on the fiscal year 2009-2010 with a $29.7
million surplus.
But Budget Director Mary Lassiter told lawmakers Thursday the
surplus was only realized after the national recession forced
officials to lower revenue projections.
The Courier-Journal reported the surplus was slightly higher
than previously reported.
Earlier this month, Lassiter reported that state revenues for
the 2009-10 fiscal year came in at $8.225 billion, or $27.2 million
more than the lowered revenue forecast made last December.
By law, funds in excess of official estimates are limited to use
for unbudgeted items such as forest fires, floods, ice storms,
tornadoes, National Guard security and disaster assistance and
legal judgments.
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Information from: The Courier-Journal,
http://www.courier-journal.com

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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