State Budget Director John Hicks said that General Fund receipts last month rose nearly 57% or nearly $443 million above the amount collected last year.
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The General Assembly this year approved $300 million for a last mile broadband expansion project that focuses on under-served areas of the state.
State Budget Director John Hicks gave an update this week to the legislature’s Interim Joint Committee on Appropriations and Revenue. He said a Request for Information, or RFI, will be issued in a couple of weeks.
“It’s purpose is to ask the providers and municipalities, and other government agencies their ideas, comments and their suggestions, Hicks said. We don’t know what we don’t know, and so we want to avail ourselves of their expertise before we finalize our process.”
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By TOM LATEK
Kentucky Today Apr 14, 2021
Kentucky s Capitol building in Frankfort. (Kentucky Today/Tom Latek)
FRANKFORT, Ky. (KT) â Federal stimulus money has helped Kentuckyâs General Fund receipts remain well above projections as the state heads into the last quarter of its fiscal year, which ends June 30.
The Office of State Budget Director reported Monday that Marchâs General Fund receipts rose 9% compared to March of last year, an increase of $78.7 million. Total revenues for the month were $954.8 million, compared to $876.1 million during March 2020.Â
Receipts have now grown 5.9% for the first nine months of the 2021 fiscal year. For the just completed quarter, total General Fund collections grew 6.7%, the largest rate of growth this fiscal year. Growth rates for the three quarters of FY21 have been 5.8, 5.3 and 6.7%, respectively.