Friday, July 23, 2010
Kentucky Ends With Budget Surplus
KENTUCKY...
Kentucky's top budget official says the state closed the books on the fiscal year 2009-2010 with a $29.7 million surplus. But Budget Director Mary Lassiter told lawmakers Thursday the surplus was only realized after the national recession forced officials to lower revenue projections. The surplus was slightly higher than previously reported. Earlier this month, Lassiter reported that state revenues for the 2009-10 fiscal year came in at $8.225 billion, or $27.2 million more than the lowered revenue forecast made last December. By law, funds in excess of official estimates are limited to use for unbudgeted items such as forest fires, floods, ice storms, tornadoes, National Guard security and disaster assistance and legal judgments.
# posted by Homer Owens @ 5:49 PM 
