| ||||||||||
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 for August 2020 General Fund receipts rose 5.9 percent, Year-to-Date up 6.5 percent, Road Fund receipts fell 1.0 percent, Year-to-Date up 2.9 percent By John Hicks/Greg Harkenrider Frankfort, KY - State Budget Director John Hicks reported today that General Fund receipts increased 5.9 percent in August compared to last year. Total revenues for the month were $833.8 million, compared to $787.2 million during August 2019. August receipts have reflected the smallest share of yearly amounts over the last five years. So far this fiscal year (FY21), General Fund receipts have increased 6.5 percent. Road Fund receipts for August totaled $140.8 million, a decrease of 1.0 percent from August 2019 levels. Through the first two months of the fiscal year, collections in this fund have increased 2.9 percent. Hicks noted that after some recent months of significantly lower tax collections due to the novel coronavirus, receipts have rebounded. "We saw the worst quarterly declines in General Fund receipts from April through June since the Great Recession. Growth rates in July and August have ticked upward supported by substantial federal relief payments to individuals and businesses. Sales and use, and the individual income taxes have been the main drivers of the improvement in collections. Total General Fund collections have increased $106.1 million in July and August over the prior year with sales and individual income taxes accounting for all of the increase. Currently, the primary revenue concern is keeping up the momentum in economic activity in spite of the expiration of much of the federal fiscal policies designed to help the economy. Without another round of federal fiscal stimulus, it will be difficult to maintain the growth in collections we have seen thus far in FY21." The official revenue estimate for FY21 calls for revenue to increase 0.3 percent compared to FY20 actual receipts. Based on Augusts' results, General Fund revenues can decline by 0.7 percent for the remainder of the fiscal year and meet the official estimate. Among the major accounts:
Among the accounts:
This story was posted on 2020-09-10 13:34:34
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:
LCDHD COVID-19 Public Information Brief 9/9/2020 Higher Calling singing at Mt. Zion Church Seeking stories of breast cancer survivors Crafters invited to Farmers Market on the Square Patchy fog, then sunny today, high 87F 7-County Area Courts for Thu 10 Sep 2020 Governor Marks Solemn Milestone Flags to half-staff to honor KY's COVID-19 fatalities CAUD September board meeting is Thursday, 10 Sept 2020 City Council Special Called Meeting, Thu 10 Sept 2020 View even more articles in topic News |
|
||||||||
| ||||||||||
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.
|