03-12-2012

State's General Fund and Road Fund tax receipts increase in February

Kentucky Press News Service

Frankfort - The Office of the State Budget Director reported Monday that February's General Fund tax receipts grew nearly 4 percent compared to February of last year, an increase of more than $21 million.

Total revenues for the month were more than $574 million compared to nearly $553 million a year ago. Receipts have grown nearly 4 percent for the first four months of fiscal year 2012, according to a press release from state Budget Director Mary Lassiter.

The state's forecast calls for 2.8 percent revenue growth for the entire fiscal year. To meet that goal, receipts must grew 1 percent over the last four months of the fiscal year.

Road Fund receipts enjoyed a healthy 5.4 percent increase over February 2011 levels. Year to date receipts for fiscal year 2012 have grown 7.5 percent.