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The Kentucky State Budget

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In January, Kentucky governor Ernie Fletcher presented his proposed budget for the state’s fiscal years 2005 and 2006, (The biennial budget process generally occurs in every even-numbered year.) The governor’s budget focuses primarily on expenditures from the general fund. That fund accounts for nearly 40% of the state’s total revenues, most of which are collected from sales taxes and individual income taxes. The remaining 60% of revenues are restricted in various ways. For instance, fuel tax receipts are earmarked primarily for constructing and maintaining state highways and interstates; most federal government dollars are used for social welfare programs.

Suggested citation: "The Kentucky State Budget," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-05, pp. 15, 05.01.2004.

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