Beshear: Kentucky General Fund has $1.1 billion surplus

Kentucky

FILE – Kentucky Gov. Andy Beshear speaks during a news conference, Thursday, June 10, 2021 in Frankfort, Ky. Gov. Beshear on Thursday, June 24, 2021 dangled a $1,500 bonus meant to lure thousands of unemployed Kentuckians back to work, offering it as an alternative to an early cutoff of enhanced jobless benefits that Republicans and businesses blame for a workforce shortage. (Ryan C. Hermens/Lexington Herald-Leader via AP, Pool)

FRANKFORT, KY (AP) — Gov. Andy Beshear says Kentucky’s General Fund ended the fiscal year with surplus over $1.1 billion, the highest ever in the commonwealth.

General Fund receipts grew by the highest annual growth rate in 26 years, the governor says.

The General Fund pays for most state services, including education, health care and public safety.

State Budget Director John Hicks says the state’s economy has been recovering at pace greater than anticipated due to vaccination efforts, federal government aid to individuals and businesses, and employment growth.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Download the FREE WOWK 13 News App

Washington DC Bureau

More Washington DC Bureau

Don't Miss

Trending Stories