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Article: GOVERNOR FLETCHER ANNOUNCES $136.5 MILLION BUDGET SURPLUS FOR FISCAL YEAR 2006

Article from:
US Fed News Service, Including US State News
Article date:
July 10, 2006
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Gov. Ernie Fletcher, R-Ky., issued the following press release:

Gov. Ernie Fletcher today announced a $136.5 million General Fund surplus for Fiscal Year 2006, which ended June 30.

To ensure the state's financial stability, the Governor directed $112.5 million of the surplus to the Budget Reserve Trust Fund, generally known as the "rainy day fund."

Governor Fletcher also exercised his authority under the recent budget bill to transfer $24 million divided into equal shares to the Kentucky Employees Retirement System (KERS) and the Kentucky Teachers' Retirement System (KTRS) Medical Insurance Fund.

"This surplus - our third consecutive surplus - is the result of deliberate, tough fiscal ...

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