General Fund revenues down 2.3 percent in May

FRANKFORT, Ky. (AP) - Kentucky officials say General Fund receipts fell 2.3 percent in May from the figures a year ago, but they expect fiscal year receipts to reach the budgeted estimate.

May receipts were $733.1 million, down from $750.3 million in May 2011. Overall for the first 11 months of the fiscal year, receipts have grown 3.2 percent to $8.1 billion.

State Budget Director Mary Lassiter's office says the state can meet the official revenue estimate with a decline of as much as 0.4 percent during the final month.

Road Fund receipts were $134 million in May, up 4.7 percent from a year earlier and 6.8 percent for the year to date. Road Fund revenues can fall 8.3 percent for the rest of the fiscal year and meet the official revenue estimate.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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