Kentucky general fund revenue falls in August

LOUISVILLE, Ky. (AP) - Nagging worries about the economy are
being blamed for a downturn in Kentucky's general fund revenue in
August.
A financial report released Friday shows that general fund
revenue fell 3 percent last month compared with a year ago.
State Budget Director Mary Lassiter says the decline breaks a
15-month streak in which general fund receipts rose over the prior
year.
Lassiter says uncertainty about the U.S. economy appears to be
affecting Kentucky tax collections.
The nation's economy has been hampered by stubbornly high
unemployment, a problem afflicting Kentucky as well.
The state reported declining revenue from individual income,
corporate income and cigarette taxes. One bright spot was that
sales tax revenues rose 1.6 percent in August and have grown 4.3
percent for the first two months of the fiscal year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WYMT CONTACT INFO 199 Black Gold Blvd. Hazard, KY 41701 606-436-5757 - switchboard 606-439-9968 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 129550788 - wkyt.com/a?a=129550788