Kentucky Officials Announce Budget Surplus

According to a report released Thursday by the Kentucky State Budget Director, annual Kentucky’s General Fund closed Fiscal Year 2019 with a surplus and receipts rose for the ninth consecutive year, while Road Fund collections have increased in each of the last three years.

The general fund exceeds official estimate by $194.5 million with Road Fund exceeds official estimates by $59.5 million.

State budget director John Chilton credits the growth to tax changes that took effect July of 2018 and the strength of the state’s economy.

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