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KENTUCKY

Kentucky

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    • Headlines

      Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Headlines

      States with budget surpluses may not really be in the black

      State Budget Solutions | by Joe Luppino-Esposito | July 17, 2014

      State Budget Solutions tracks the claimed surpluses of state budgets and explains why there is more than meets the eye.

    • Headlines : California, Idaho, Kentucky, Michigan, Mississippi, North Carolina , Pennsylvania, Texas, Virginia, Washington

      Williams Report - June 19, 2014

      by Bob Williams | June 19, 2014

      Welcome to the NEW Williams Report! Take a look at the top headlines from this week, provided by State Budget Solutions. And don't forget to tweet with Bob's signature-- #SBSBob!

    • Headlines : Kentucky

      Kentucky City Sues State Pension System Over Risky Investments

      WFPL.org | by Jonathan Meador | June 4, 2014

      A Kentucky city is suing the state's public pension system over its investment of county employees' retirement money into "risky" hedge funds.

    • Headlines : Kentucky

      Kentucky spends $1.2 million fighting Seven Counties over pensions

      WDRB.com | by Chris Otts | June 3, 2014

      U.S. Bankruptcy Judge Joan A. Lloyd ruled the Louisville-based mental health agency can ditch the pension system and its rapidly escalating costs through the bankruptcy process. Kentucky Retirement Systems, which oversees the main pension plan for state workers, wanted the court to force Seven Counties to keep paying into the system.

    • Budget timeframe: Biennial

      Fiscal Year begins: July 1

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.

       

      KY Gov. Beshear

      Gov. Steven Beshear
      Office of Governor Steven L. Beshear
      The Capitol Building
      700 Capitol Avenue, Suite 100
      Frankfort, KY 40601
      Phone: (502) 564-2611
      Fax: (502) 564-0437

      http://governor.ky.gov/

       

       

      Mary E. Lassiter, State Budget Director
      Governor's Office for Policy & Management
      Capitol Annex, Room 284
      Frankfort, KY 40601
      Phone (502) 564-7300
      Fax: (502) 564-6684
      www.osbd.ky.gov

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities



      Kentucky is required to pass a "balanced budget." Section 171 of State law mandates that for each fiscal year the legislature provide revenue to meet the estimated expenses. Kentucky law forbids the carrying over of a deficit from one year to the next.

       

      Kentucky consists of the following governmental funds: the General Fund, the Transportation Fund, the Federal Fund, the Agency Revenue Fund, the Capital Projects Fund, and the non-major funds (comprised of 5 lesser funds). Budgets are prepared principally on a cash basis and all of the major governmental funds are budgeted except for the Capital Projects Fund. Non-major funds are not budgeted. Six of the ten governmental funds are not budgeted, which is evident from the Kentucky data sheet where actual figures are far from being in sync with budgeted figures. Information necessary for analysis is not all present within Budgetary Comparison Schedules: beginning and ending balances are missing.  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

       

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    • Medicaid :

    • HEADLINES

      Little-Known Health Act Fact: Prison Inmates Are Signing Up

      New York Times | by Erica Goode | March 11, 2014

      In a little-noticed outcome of President Obama’s Affordable Care Act, jails and prisons around the country are beginning to sign up inmates for health insurance under the law, taking advantage of the expansion of Medicaid that allows states to extend coverage to single and childless adults — a major part of the prison population.

    • HEADLINES: Kentucky

      More cuts in next state budget?

      The Louisville Courier-Journal | by Tom Loftus | December 10, 2013

      The basic outlook for the 2014-16 state budget means more spending cuts are on the table as Gov. Steve Beshear and his staff draft the state spending plan that the governor will propose to the General Assembly next month.

    • View All Kentucky articles
    • Solutions: Kentucky

      Future Shock Solutions

      The Bluegrass Institute | by Lowell Reese | April 8, 2013

      The goal is to enact systemic change and create a climate for long-term solvency for Kentucky's public pensions. This requires changing the very structure of the system while providing the minimum amount of one-time immediate funding to stave off bankruptcy in the state employees’ fund. Steps also must be taken to set in place policies that will enable the commonwealth to avoid such pension crises in the future.

    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • California, Idaho, Kentucky, Michigan, Mississippi, North Carolina , Pennsylvania, Texas, Virginia, Washington

      Williams Report - June 19, 2014

      by Bob Williams | June 19, 2014

      Welcome to the NEW Williams Report! Take a look at the top headlines from this week, provided by State Budget Solutions. And don't forget to tweet with Bob's signature-- #SBSBob!

    • Kentucky

      Kentucky City Sues State Pension System Over Risky Investments

      WFPL.org | by Jonathan Meador | June 4, 2014

      A Kentucky city is suing the state's public pension system over its investment of county employees' retirement money into "risky" hedge funds.

    • Kentucky

      Kentucky spends $1.2 million fighting Seven Counties over pensions

      WDRB.com | by Chris Otts | June 3, 2014

      U.S. Bankruptcy Judge Joan A. Lloyd ruled the Louisville-based mental health agency can ditch the pension system and its rapidly escalating costs through the bankruptcy process. Kentucky Retirement Systems, which oversees the main pension plan for state workers, wanted the court to force Seven Counties to keep paying into the system.

    • Kentucky

      Fitch: Kentucky pension is the country's worst

      Louisville Business First | May 20, 2014

      The non-hazardous pension under the Kentucky Employee Retirement System has about 25 percent of the money it would need to cover obligations to retirees.

    • Headlines

      Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Headlines

      States with budget surpluses may not really be in the black

      State Budget Solutions | by Joe Luppino-Esposito | July 17, 2014

      State Budget Solutions tracks the claimed surpluses of state budgets and explains why there is more than meets the eye.

    • Headlines : California, Idaho, Kentucky, Michigan, Mississippi, North Carolina , Pennsylvania, Texas, Virginia, Washington

      Williams Report - June 19, 2014

      by Bob Williams | June 19, 2014

      Welcome to the NEW Williams Report! Take a look at the top headlines from this week, provided by State Budget Solutions. And don't forget to tweet with Bob's signature-- #SBSBob!

    • California, Idaho, Kentucky, Michigan, Mississippi, North Carolina , Pennsylvania, Texas, Virginia, Washington

      Williams Report - June 19, 2014

      by Bob Williams | June 19, 2014

      Welcome to the NEW Williams Report! Take a look at the top headlines from this week, provided by State Budget Solutions. And don't forget to tweet with Bob's signature-- #SBSBob!

    • Headlines : Kentucky

      Kentucky City Sues State Pension System Over Risky Investments

      WFPL.org | by Jonathan Meador | June 4, 2014

      A Kentucky city is suing the state's public pension system over its investment of county employees' retirement money into "risky" hedge funds.

    • Kentucky

      Kentucky City Sues State Pension System Over Risky Investments

      WFPL.org | by Jonathan Meador | June 4, 2014

      A Kentucky city is suing the state's public pension system over its investment of county employees' retirement money into "risky" hedge funds.

    • Headlines : Kentucky

      Kentucky spends $1.2 million fighting Seven Counties over pensions

      WDRB.com | by Chris Otts | June 3, 2014

      U.S. Bankruptcy Judge Joan A. Lloyd ruled the Louisville-based mental health agency can ditch the pension system and its rapidly escalating costs through the bankruptcy process. Kentucky Retirement Systems, which oversees the main pension plan for state workers, wanted the court to force Seven Counties to keep paying into the system.

    • Kentucky

      Kentucky spends $1.2 million fighting Seven Counties over pensions

      WDRB.com | by Chris Otts | June 3, 2014

      U.S. Bankruptcy Judge Joan A. Lloyd ruled the Louisville-based mental health agency can ditch the pension system and its rapidly escalating costs through the bankruptcy process. Kentucky Retirement Systems, which oversees the main pension plan for state workers, wanted the court to force Seven Counties to keep paying into the system.

    • Headlines

      States Push Annual Park Passes to Raise Revenue

      Stateline | by Sandy Johnson | May 23, 2014

      As the Memorial Day holiday opens the 2014 summer vacation season, state parks have had to get creative about ways to raise money because budget officers are being chintzier with tax revenue.