General Fund receipts up 3.8 percent in August

FRANKFORT, Ky. (AP) - A top adviser to Gov. Steve Beshear is reporting that General Fund receipts rose modestly in August.

State Budget Director Jane Driskell said Tuesday that collections were up 3.8 percent to $663.7 million for the month.

Driskell said the increase was due largely to a spike in revenue from the sales tax and the income tax. She said robust construction activity across the state is likely responsible.

Driskell's monthly report to Beshear and the Legislature showed a 4.1 percent increase in income tax collections and a 5.8 percent increase in sales tax revenue in August. Income from those sources offset a 42.2 percent decline in property tax revenue in August, a 21.4 percent decline in coal severance tax collections and an 11.7 percent fall in cigarette tax revenue.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 223180491 - wkyt.com/a?a=223180491
Gray Television, Inc.