Uploaded August 2026 | Updated September 2026, 3 weeks ago
Kentucky is in the second month of the new fiscal year. This week, state lawmakers learned what was believed to be a budget revenue shortfall has turned into a hefty surplus.
Last fall, Gov. Andy Beshear said the state could see a $300 million budget shortfall. Then, in December, the Consensus Forecasting Group -- created by the General Assembly and made up of economists -- cut that projected shortfall in half.
Now, the Joint Committee on Appropriations and Revenue has learned Kentucky is beginning the fiscal year with a $476 million budget surplus.
"They make a prediction about the amount of revenue, and I don't get to argue with it," Beshear said.
Beshear noted state law requires him to use its revenue projections when adjusting the budget.
"That was wild to me when the General Assembly was saying, 'Oh no, we do not agree.' This is the group you created, and under law, there's no agreement or disagreement," Beshear said.
The budget surplus took center stage at a meeting of the Joint Committee on Appropriations and Revenue, as lawmakers questioned the governor's decision to transfer and spend nearly $200 million of the surplus.
Republican Sen. Chris McDaniel serves as chair of the Joint Committee on Appropriations and Revenue.
"It seemed like a fairly sizeable transfer between cabinets beyond the authority that is extended to the executive branch. What was the underlying legal rationale to make that size of a transfer?" asked McDaniel.
The next meeting of the Interim Joint Committee on Appropriations and Revenue is scheduled for next month.
FULL STORY: wchstv.com/news/local/ky-begins-fiscal-year-with-hefty-budget-surplus-despite-shortfall-predicted-by-governor
_________________________________________
Follow WCHS on social media:
Facebook: facebook.com/eyewitnessnewscharleston
Twitter: twitter.com/wchs8fox11
Instagram: instagram.com/wchs8fox11
For the latest local and national news, visit our website: wchstv.com
Sign up for our newsletter: wchstv.com/sign-up
Kentucky is in the second month of the new fiscal year. This week, state lawmakers learned what was believed to be a budget revenue shortfall has turned into a hefty surplus.
Last fall, Gov. Andy Beshear said the state could see a $300 million budget shortfall. Then, in December, the Consensus Forecasting Group -- created by the General Assembly and made up of economists -- cut that projected shortfall in half.
Now, the Joint Committee on Appropriations and Revenue has learned Kentucky is beginning the fiscal year with a $476 million budget surplus.
"They make a prediction about the amount of revenue, and I don't get to argue with it," Beshear said.
Beshear noted state law requires him to use its revenue projections when adjusting the budget.
"That was wild to me when the General Assembly was saying, 'Oh no, we do not agree.' This is the group you created, and under law, there's no agreement or disagreement," Beshear said.
The budget surplus took center stage at a meeting of the Joint Committee on Appropriations and Revenue, as lawmakers questioned the governor's decision to transfer and spend nearly $200 million of the surplus.
Republican Sen. Chris McDaniel serves as chair of the Joint Committee on Appropriations and Revenue.
"It seemed like a fairly sizeable transfer between cabinets beyond the authority that is extended to the executive branch. What was the underlying legal rationale to make that size of a transfer?" asked McDaniel.
The next meeting of the Interim Joint Committee on Appropriations and Revenue is scheduled for next month.
FULL STORY: wchstv.com/news/local/ky-begins-fiscal-year-with-hefty-budget-surplus-despite-shortfall-predicted-by-governor
_________________________________________
Follow WCHS on social media:
Facebook: facebook.com/eyewitnessnewscharleston
Twitter: twitter.com/wchs8fox11
Instagram: instagram.com/wchs8fox11
For the latest local and national news, visit our website: wchstv.com
Sign up for our newsletter: wchstv.com/sign-up
