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Kentucky Yearly Expenses by Quarter
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Multi-State
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US-174-AZ
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FAQ
In 2011, only four states still have biennial sessionsMontana, Nevada, North Dakota and Texas. Two changes came recently: Arkansas with its first annual session in 2009, and Oregon with its first in 2011.
Among the states, Alaska had the highest per capita state and local spending in 2019 at $17,596, followed by New York ($15,667) and Wyoming ($15,107).
Kentucky's fiscal year begins July 1 and ends the following June 30. Biennial budget bills contain annual appropriations. An appropriation authorizes a state agency to spend a maximum sum of public funds during a fiscal year.
Depending on the size of a state's budget that might not be very much but in at least 29 of those states, the surplus was actually more than $1 billion. The total for those 29 states is more than $173.9 billion in additional funds. In many cases, the surplus is from state tax revenue that went far beyond projections.
Although Kentucky has a budget surplus, the state has by no means recovered from the pandemic. Many Kentucky residents continue to struggle from the effects of the pandemic, and the damage may last for years.
According to the National Association of State Budget Officers (NASBO), Kentucky's total expenditures in fiscal year (FY) 2021 were $42.1 billion, including general funds, other state funds, bonds, and federal funds.
A balanced budget refers to the budgeting concept that appropriations should not exceed resources available to cover these expenditures. Cities and towns are required to pass a balanced budget (RCW 35.33. 075, 35A. 33.075, 35.34.
Kentucky's constitution, like that of almost every other state, requires a balanced budget even during recessions. States tap rainy day funds to help fill budget gaps when revenues sag or new costs arise due to unforeseen circumstances.
For the first time in over 20 years, state employees will receive a five percent salary increase, effective . In ten of the last twelve years, state employees have had no salary increment at all.
Developing the state's annual budget is one of the most important and complicated responsibilities of Missouri lawmakers. Missouri's state constitution requires the budget to be balanced, so spending by the state cannot exceed incoming revenue. The state's fiscal year runs from July 1st to June 30th every year.
