state budget

3:59pm

Mon August 11, 2014
The Commonwealth

State Budget Off to Good Start

Credit www.kentucky.gov

State officials say Kentucky's 2015 budget is off to a good start.

The state collected more than $705 million in taxes and fees in July. That's 2.2 percent more than the state collected in July 2013.

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10:15pm

Wed July 16, 2014
The Commonwealth

Beshear Plugs $91 Million Budget Shortfall

Credit Pablo Alcala / Lexington Herald Leader

Democratic Gov. Steve Beshear has signed an order to plug a $91 million hole in Kentucky's $9.5 billion state budget.

State officials announced the shortfall last week following sluggish collections on state income taxes. Beshear's order Wednesday cuts just $3 million in state spending. Beshear made up the rest by transferring money from other sources, including $21.2 million from the state's reserves.

State officials said they had few options to make up the deficit because the shortfall came at the end of the fiscal year when most of the money had already been spent.

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