Tuesday, August 11, 2009
General Funds Receipts Drop
Kentucky's state budget office says general fund receipts for July totaled $620.5 million, a 4% drop from the year 2008. The largest revenue accounts--sales and individual income taxes--fell a combined 7.3% from a year ago, while the cigarette tax increased 67%, due to a 30 cent per pack tax increase. Road fund revenues were $90.4 million, down 8.2%.