84 WHAS Local News

 

State Ends Fiscal Year With Budget Shortfall

 

FRANKFORT, Ky. -- Kentucky's state government closed its fiscal year June 30th, in the red. General Fund receipts were almost $91,000,000 below the forecast, with the Road Fund $22,000,000 short, although both saw a rise over last year.

State Budget Director Jane Driskell says the biggest contributor to the shortfall was individual income taxes, which were forecast to grow by 2.4%, but ended up nearly flat.

Since state law requires a balanced budget, she says they'll look for areas to recover money on the expenditure side.

 

 

 

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