Thursday, December 10, 2009
State Revenues Increase
KENTUCKY....
For the first time in 11 months, Kentucky state revenues grew. In November, General Fund receipts were up 2.4% compared to the previous November. Revenues were $722.3 million compared to $705.2 million for November 2008. However, the two largest sources of receipts, sales and individual incomes taxes, saw collections fall 0.7%. So far this year, the General Fund has fallen 3.6%. A group of independent economists will meet December 21st to possibly revise its estimate of revenues for the current fiscal year, although preliminary estimates released in October showed a possible $161 million shortfall.
For the first time in 11 months, Kentucky state revenues grew. In November, General Fund receipts were up 2.4% compared to the previous November. Revenues were $722.3 million compared to $705.2 million for November 2008. However, the two largest sources of receipts, sales and individual incomes taxes, saw collections fall 0.7%. So far this year, the General Fund has fallen 3.6%. A group of independent economists will meet December 21st to possibly revise its estimate of revenues for the current fiscal year, although preliminary estimates released in October showed a possible $161 million shortfall.
# posted by Homer Owens @ 10:27 PM 
