Glasgow Daily Times, Glasgow, KY

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State News

May 11, 2013

Tax receipts in danger of not meeting budget projections

FRANKFORT — After three straight months of weak tax receipts, including a 2 percent decline in April, state budget officials face the possibility the state may not collect enough revenues this fiscal year to meet budget projections.

The state Road Fund, which is funded by separate taxes and revenues, actually jumped by double digits, establishing an all-time monthly high.

The State Budget Director’s Office announced Friday that April’s General Fund receipts were 2 percent below last April’s, about $16.5 million less. Total revenues for April were $821.4 million compared to $837.9 million last year.

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