Kentucky's general fund revenues declined 2% in April compared with last year, a decrease of $16.5 million, State Budget Director Jane Driskell said.
Total revenues for the month were $821.4 million.
Collections have grown 2.1% in the first 10 months of fiscal 2013. While the state's general fund budget calls for 2.4% in revenue growth for the year, a recent internal revenue estimate predicts that revenues will grow by 2.1%.
"General fund revenues were hampered by large declines in sales and use [taxes], corporation income, and property tax collections," Driskell said. "Continued weakness in the sales tax is particularly conspicuous since the national economy is improving and consumer confidence is growing."
Sales and use tax receipts decreased 7.3% in April and have declined 1.5% percent for the year. Corporation income tax receipts fell 89.7% in April but have increased 2.8% overall this year.
Individual income tax collections rose 5.5% percent in April and have grown by 5.6% though the first ten months fiscal 2013. Property tax collections fell 53.5% last month but are up 3.9% for the year-to-date. Road fund receipts for April totaled $143.1 million, an 18.3% increase. Year-to-date the receipts are up 4.2%.
