Kentucky Fiscal Statistics

StatisNostics/State Financials/Kentucky

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20122022

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State Revenue Analysis (Kentucky: 2012–2022)

Population: 4,383,465 → 4,477,251 (2.1% change)

Overall Revenue Trends

Total Revenue▲ 92.9%

$23,599,006,000 (2012)→$45,521,886,000 (2022)

Per Capita Revenue▲ 88.8%

$5,384 (2012)→$10,167 (2022)

Fund Balances▼ 100%

$12,136,542,000 (2012)→$0 (2022)

Revenue Volatility✓ Low

Avg. fluctuation: 6.9%

Major Tax Revenue

Property Tax▲ 37%

$529,567,000 (2012)→$725,415,000 (2022)

Sales Tax▲ 69.1%

$3,052,236,000 (2012)→$5,162,018,000 (2022)

Utility Revenue

Solid Waste Charges▲ 7.5%

$979,000 (2012)→$1,052,000 (2022)

Growth Analysis

Fastest Growing Revenue Sources

Parimutuels Tax▲ 1225.5%

$3,601,000→$47,733,000

Federal Intergovernmental Health & Hospitals▲ 595.8%

$260,937,000→$1,815,673,000

Documentary & Stock Transfer Tax▲ 203.5%

$3,255,000→$9,879,000

Declining/Slowest Growing Sources

Elementary Secondary Education Not Elsewhere Classified Charges▼ 85.7%

$273,000→$39,000

Severance Tax▼ 68.5%

$346,050,000→$109,019,000

Workers Compensation - Interest Earnings▼ 51.6%

$83,411,000→$40,381,000

Revenue Forecast

Projected Revenue (Next Year)▲ 13.6%

Estimated: $51,691,500,663

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare20.1%

Individual Income Tax14.9%

Total General Sales Taxes12.9%

Federal Intergovernmental Education5.7%

Hospital Charges4.8%

Higher Education Tuition Charges4.4%

Motor Fuels Sales Tax3.3%

Federal Intergovernmental Highways3.2%

Other Selective Sales Taxes3.0%

Corporation Net Income Tax2.4%

Property Tax2.2%

Unemployment - Contribution2.2%

Miscellaneous General Revenue Not Elsewhere Classified1.7%

Severance Tax1.5%

Federal Intergovernmental Other1.5%

Higher Education Auxiliary Charges1.3%

Interest Earnings1.2%

Tobacco Sales Tax1.2%

Federal Intergovernmental Health & Hospitals1.1%

Net Lottery Revenue1.1%

Federal Intergovernmental Housing & Community Development1.1%

All Other Not Elsewhere Classified Charges1.0%

Workers Compensation - Other Contributions0.8%

Motor Vehicle License0.8%

Donations From Private Sources0.7%

Federal Intergovernmental Other Natural Resources0.6%

Insurance Premium Tax0.6%

Federal Intergovernmental Employment Security Administration0.6%

Occupation & Business License Not Elsewhere Classified0.5%

Alcoholic Beverage Sales Tax0.5%

Corporation License Tax0.4%

Workers Compensation - Interest Earnings0.4%

Fines & Forfeits0.3%

Public Utilities Tax0.3%

Parks & Recreation Charges0.3%

Natural Resources Not Elsewhere Classified Charges0.3%

Regular Highway Charges0.2%

Death & Gift Tax0.2%

Federal Intergovernmental Water Utilities0.2%

Hunting & Fishing License0.1%

Federal Intergovernmental Transit Utilities0.1%

Local Intergovernmental Education0.1%

Motor Vehicle Operators License0.1%

Housing & Community Development Charges0.1%

Federal Intergovernmental General Support0.1%

Rents0.0%

Local Intergovernmental Other0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Housing & Community Development0.0%

Other License Tax0.0%

Parimutuels Tax0.0%

Documentary & Stock Transfer Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Solid Waste Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Amusement License Tax0.0%

Amusement Tax0.0%

2022 Revenue Breakdown

Federal Intergovernmental Public Welfare29.7%

Individual Income Tax13.6%

Total General Sales Taxes11.3%

Hospital Charges7.2%

Federal Intergovernmental Education6.5%

Federal Intergovernmental Health & Hospitals4.0%

Higher Education Tuition Charges2.8%

Corporation Net Income Tax2.6%

Unemployment - Contribution2.4%

Miscellaneous General Revenue Not Elsewhere Classified2.3%

Federal Intergovernmental Highways2.2%

Other Selective Sales Taxes2.1%

Motor Fuels Sales Tax1.6%

Property Tax1.6%

Federal Intergovernmental Housing & Community Development1.0%

Net Lottery Revenue1.0%

Federal Intergovernmental Other1.0%

Higher Education Auxiliary Charges0.9%

Tobacco Sales Tax0.8%

Motor Vehicle License0.5%

Workers Compensation - Other Contributions0.4%

Donations From Private Sources0.4%

Alcoholic Beverage Sales Tax0.4%

Insurance Premium Tax0.4%

Federal Intergovernmental Employment Security Administration0.3%

All Other Not Elsewhere Classified Charges0.3%

Occupation & Business License Not Elsewhere Classified0.3%

Corporation License Tax0.3%

Severance Tax0.2%

Federal Intergovernmental Other Natural Resources0.2%

Natural Resources Not Elsewhere Classified Charges0.2%

Death & Gift Tax0.2%

Public Utilities Tax0.2%

Regular Highway Charges0.2%

Parks & Recreation Charges0.1%

Parimutuels Tax0.1%

Workers Compensation - Interest Earnings0.1%

Fines & Forfeits0.1%

Hunting & Fishing License0.1%

Local Intergovernmental Education0.1%

Motor Vehicle Operators License0.1%

Housing & Community Development Charges0.1%

Toll Highway Charges0.0%

Local Intergovernmental Other0.0%

Rents0.0%

Documentary & Stock Transfer Tax0.0%

Federal Intergovernmental General Support0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Housing & Community Development0.0%

Unemployment - Interest Revenue0.0%

Other License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Solid Waste Charges0.0%

Air Transportation Charges0.0%

Amusement License Tax0.0%

Amusement Tax0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Water Utilities Revenue0.0%

Key Insights

1Total revenue increased by 92.9% from 2012 to 2022, representing a significant change in the state's financial position.
2Population changed by 2.1%, while per-capita revenue changed by 88.8%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Kentucky: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 198%

$10,167,933,000→$30,276,018,000

Per Capita Spending▲ 192%

$2,320→$6,762

Population Trends

Population Change▲ 2.1%

4,383,465 (2012)→4,477,251 (2022)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 60%

$192,361,000 (2012)→$308,495,000 (2022)

Fire Protection▼ 0%

$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 49%

$471,604,000 (2012)→$701,756,000 (2022)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2022)

Administrative Expenses

Financial Administration▲ 61%

$330,849,000 (2012)→$531,205,000 (2022)

General Expenses▼ 8%

$365,286,000 (2012)→$336,251,000 (2022)

Kentucky Key Insights

1Per capita expenditures grew by 192%, indicating substantial service expansion or cost increases not explained by population growth alone

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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 10%

$9,130,760,000 (2012)→$10,080,998,000 (2022)

Industrial Revenue Debt▼ 100%

$5,940,874,000 (2012)→$0 (2022)

Per Capita Debt▲ 8%

$2,083 (2012)→$2,252 (2022)

Population Trends

Population Change▲ 2.1%

4,383,465 (2012)→4,477,251 (2022)

Debt Management

Most Recent Year (2022)

Issued:$636,228,000

Retired:$1,328,785,000

Net Change:$-692,557,000

Debt Retirement Trend

$914,040,000 → $1,328,785,000▲ 45%