FRANKFORT, Ky. (AP) - State officials say Kentucky's General Fund receipts increased 2.5% in August over last year, while Road Fund revenue fell 2.9% from a year ago, the first monthly decline since June 2010.
The estimate for the year calls for General Fund revenue to increase 2.4% over last year. State Budget Director Mary Lassiter's office said revenues will have to grow 2.8% for the rest of the fiscal year to meet that.
Revenue fell 2.3% in July from a year ago.
Lassiter said the General Fund's two largest sources, individual income and sales taxes, have year-to-date declines through August.
The Road Fund estimate calls for a 3.9% increase for the year. For August, motor vehicle usage collections decreased 13.5%.
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