State Finishes Fiscal Year in Black
Despite dim outlooks, the Commonwealth of Kentucky has turned a budget surplus for the second year in a row. The last fiscal year closed with an additional $83 million in the General Fund. The road fund has a $31 million surplus. The extra revenue has two potential uses. First, the state can make emergency payments, like putting additional money to cleaning up tornado damage in Eastern Kentucky.
And it can send money to the rainy day fund to help build back Surpluses that were spent during the recession.
The office of the budget director says the state will announce how to use the money by the end of this month.