FRANKFORT, Ky. (AP) – Kentucky officials say the state’s revenue collections in May continued to far outpace last year’s pandemic-battered performance.
State Budget Director John Hicks said Thursday that General Fund receipts last month rose nearly 57% – or nearly $443 million – above the amount collected in May 2020.
He says receipts have grown by 14% for the first 11 months of the current fiscal year.
The General Fund pays for most state services, including education, health care and public safety.
Republican lawmakers are raising concerns about the economy’s health. They point to workforce shortages, strained supply chains and inflation.