By Associated Press - Friday, September 11, 2020

FRANKFORT, Ky. (AP) - Kentucky’s revenue collections continued to show resiliency despite the ongoing fight against the coronavirus, budget officials said.

General Fund receipts in August increased 5.9% compared to the same period a year ago, state Budget Director John Hicks said Thursday. Revenues for the month totaled $833.8 million, compared to $787.2 million during August 2019, he said.

So far, General Fund receipts have increased 6.5% in the current fiscal year, which began in July. The General Fund pays for most state services, including education, health care and public safety.

Receipts rebounded after recent months of significantly lower tax collections due to the COVID-19 outbreak, Hicks said.

“We saw the worst quarterly declines in General Fund receipts from April through June since the Great Recession,” he said. “Growth rates in July and August have ticked upward supported by substantial federal relief payments to individuals and businesses.”

The improved collections have been driven mainly by sales and individual income taxes, he said.

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