Printed from:

Welcome to Columbia Magazine  

KY General Fund and Road Fund receipts for October 2018

General Fund receipts rose 3.5 Percent. Road Fund receipts rose 3.4 Percent

By John E. Chilton/Greg Harkenrider

Frankfort, KY - State Budget Director John Chilton reported today that General Fund receipts rose 3.5 percent in October with revenues of $826.0 million. This compares to $798.4 million collected in October 2017. Through the four months of the fiscal year (FY19), the General Fund has grown 4.2 percent.

The official General Fund revenue estimate for FY19 calls for revenue to grow 3.3 percent compared to FY18 actual receipts. Based on October's results, General Fund revenues must increase 2.9 percent for the remainder of the fiscal year to meet the official estimate.

Chilton observed that the October activity continued to follow the path predicted by the tax reform efforts in 2018, albeit colored by some notable timing differences. "Sales and gross receipts taxes grew by 8.4 percent in October, largely aided by the timing of an $8.5 million gain in insurance premiums taxes and a $11.4 million gain in the cigarette tax which is attributable to the tax law change. The sales and use tax increased by only 3.3 percent compared to October 2017, but growth was muted due to substantial refund activity. Meanwhile, the individual income tax showed continued weakness with a 1.0 percent setback in October due to the rate reductions embodied in the tax reform measure, HB 487. Taken in aggregate, October's revenue collections were consistent with the latest Governor's Office for Economic Analysis estimates that were released on October 30, predicting that FY19 receipts will nearly equal the offical budgeted estimate as General Fund growth becomes more parsimonious in the coming quarters."

Among the major General Fund accounts:
  • Individual income taxes fell 1.0 percent in October as a 3.0 percent decline in withholding overwhelmed gains net returns and estimated tax payments. Year-to-date collections are down 0.7 percent. This is consistent with the reduction in tax rates in HB 487.

  • Sales tax revenues grew 3.3 percent in October, partially encumbered by $10 million in refunds attributable to tax increment financing agreements. Collections have increased 7.0 percent in the first four months of the year.

  • Corporation income tax receipts increased $5.2 million in Ocotber but have declined 1.6 percent so far in FY19.

  • Cigarette taxes are up 71.2 percent for the month and have grown 66.2 percent for the first four months of the fiscal year. The increase coincides with the July 1 83.3 percent increase in the cigarette tax from $0.60 per pack to $1.10 per HB 487.

  • Property taxes grew 61.5 percent in October, up 4.7 percent for the year.

  • Coal severance tax receipts fell 9.5 percent for the month. Year-to-date collections are down 18.4 percent.

  • Lottery revenues increased 2.5 percent in October and are up 2.7 percent for the year.

  • Road Fund receipts grew 3.4 percent in October with collections of $123.7 million. Year-to-date collections have grown 3.7 percent compared to last year's total. Despite declines in Road Fund revenue in FY15 and FY16, followed by anemic growth in FY17 and FY18, receipts have now risen in six of the past eight months. The official Road Fund revenue estimate calls for a 0.3 percent decrease in receipts for the entire fiscal year (FY19). Based on year-to-date collections, revenues can fall 2.3 percent for the remainder of the fiscal year to meet the estimate.

Among the Road Fund accounts:
  • Motor fuels receipts dipped 1.6 percent in September but have grown 0.6 percent for the year.

  • Motor vehicle usage collections rose 10.0 percent for the month. Year-to-date collections are up 6.2 percent.

  • License and privilege taxes rebounded from a weak September to post 5.9 percent growth in October. For the first four months of the fiscal year, receipts are up 5.9 percent.

  • Nontax receipts increased marginally in October but have grown 42.8 percent for the year.

Additional information is available here

This story was posted on 2018-11-09 13:16:05
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know.


Quick Links to Popular Features

Looking for a story or picture?
Try our Photo Archive or our Stories Archive for all the information that's appeared on


Contact us: Columbia Magazine and are published by D'Zine, Ltd., PO Box 906, Columbia, KY 42728.
Phone: 270.403.0017

Please use our contact page, or send questions about technical issues with this site to All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia! Magazine and D'Zine, Ltd. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.