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.