| ||||||||||
 
Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
Visit ColumbiaMagazine's Directory of Churches Addresses, times, phone numbers and more for churches in Adair County Find Great Stuff in ColumbiaMagazine's Classified Ads Antiques, Help Wanted, Autos, Real Estate, Legal Notices, More... 
|
General Fund and Road Fund receipts decrease in May 2020 General Fund receipts decreased 8.1 percent, year-to-date down 1.8 percent; Road Fund receipts decreased 33.4 percent, year-to-date down 4.6 percent. By John T. Hicks/Greg Harkenrider Frankfort, KY - The Office of State Budget Director reported today that May's General Fund receipts fell 8.1 percent compared to May of last year, a decrease of $69.0 million. Total revenues for the month were $781.0 million, compared to $850.0 million during May 2019. Receipts have now fallen 1.8 percent for the first eleven months of FY20. The revised official estimate for FY20 rendered by the Consensus Forecasting Group (CFG) on May 22, 2020, calls for 3.5 percent revenue decline for the entire fiscal year. To meet the estimate with one month remaining, receipts must decline by 20.6 percent. State Budget Director John Hicks noted that General Fund revenues were better than expected due to an unanticipated 12.4 percent increase in the individual income tax. "Income tax withholding receipts were buttressed by unemployment insurance payments, defying economic expectations by increasing 8.0 percent following a 7.5 percent decline in April. Many of the beneficiaries of unemployment insurance elect to have withholding deducted from their weekly payments. A lower level of income tax refunds also contributed to the increase from last May, likely a result of the change in the filing deadline from April 15 to July 15. Sales tax receipts were down by 10.9 percent which was better than the CFG expected in their recent revenue estimate which predicted a 26 percent decline for May and June combined. Business taxes declined significantly, continuing a trend seen throughout the fiscal year." Among the major accounts:
Road Fund receipts fell 33.4 percent in May 2020 with collections of $95.8 million with declines in every major tax account. This follows a decline of 30.1 percent in April. Year-to-date collections are lower by 4.6 percent. Among the accounts, motor fuels fell 27.7 percent and are down 2.7 percent for the year. Motor vehicle usage revenue declined 30.1 percent following a 60.1 percent decline in April, while license and privilege receipts fell 41.9 percent. Hicks observed that "even with the large reductions to the motor fuels and motor vehicle usage accounts in May, collections were still ahead of expectations set by the CFG revision to the FY20 Road Fund estimates". Based on year-to-date tax collections, revenues must decline 81.1 percent in June to meet the estimate. This story was posted on 2020-06-10 19:20:49
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know. More articles from topic News:
Governor's Wednesday update: Churches to 50% Adair Co. Public Library announces re-opening dates Partly sunny and windy today, storms expected, high 87F 7-County Area Courts for Wed 10 Jun 2020 Governor's Tuesday update: State Fair plan approved LCDHD: Remember COVID-19 is still active, do your part Partly sunny and windy today, chance of storms, high 85F Recycling Part I - what's acceptable, what's not 7-County Area Courts for Tue 9 Jun 2020 COVID-19 update: Adair County hits 100 total cases View even more articles in topic News |
 
115 Jamestown St. Columbia, KY. 270-384-2496 
  
   
 Provided by the Adair Co Fiscal Court and the Adair Co. Emergency Mgt. Agency 
|
||||||||
|
| ||||||||||
|
Quick Links to Popular Features
Looking for a story or picture? Try our Photo Archive or our Stories Archive for all the information that's appeared on ColumbiaMagazine.com. | ||||||||||
|
Contact us: Columbia Magazine and columbiamagazine.com are published by Linda Waggener and Pen Waggener, PO Box 906, Columbia, KY 42728. Please use our contact page, or send questions about technical issues with this site to webmaster@columbiamagazine.com. All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia Magazine. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.
| ||||||||||
