Kentucky’s general fund receipts for February were down compared to last year.

From the State Budget Director:

General Fund receipts fell 0.6 percent compared to February of last year, a decrease of $3.4 million. Total revenues for the month were $525.0 million, compared to $528.4 million during February 2009. Receipts have now fallen 4.0 percent for the first eight months of Fiscal Year 2010.

The December 21, 2009 official revenue forecast by the Commonwealth’s Consensus Forecasting Group (CFG) called for a 2.7 percent decline for the entire fiscal year. To meet the revenue estimate, receipts can decline 0.2 percent over the last four months of the fiscal year.

Road Fund receipts for February totaled $99.4 million, a 1.6 percent increase over February 2009 levels. Year-to-date receipts for FY10 are down 1.1 percent.

State Budget Director Mary Lassiter noted that General Fund tax receipts continue to lack positive momentum despite a prognosis by the CFG that revenues should improve in the second half of the fiscal year.
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