State General, Road Funds up from last month, last year

In News, State by OC Monitor Staff

FRANKFORT, Ky. — The Office of State Budget Director reported today that April’s General Fund receipts increased significantly over April 2020 receipts due to large sales tax collections and timing issues for income tax receipts. The comparisons to April 2020 are heavily affected by the substantial declines in tax collections at the onset of the pandemic last year. Collections rose 59.1 percent, or $506.6 million, to $1,363.6 million, compared to $857.0 million received during April 2020. Consumption-related receipts last year were greatly reduced because of the COVID-19 mitigation actions taken to prevent infections while income taxes were delayed due to the extension of the filing deadlines. Receipts have grown 10.8 percent for the first 10 months of FY21.

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