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Thanks to lower spending, small revenue growth, state closes fiscal year with $70M surplus

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Thanks to slowed spending by cash-strapped state agencies, as well as a small bump in General Fund revenues, state Budget Director Jane Driskell announced Friday that Kentucky state government closed the 2012-13 fiscal year with a General Fund surplus of $70.6 million.
Driskell warned, however, in a state news release that the fiscal year that just began July 1 extends the budget cuts that were in place last year, and that state agencies would continue to be challenged to deliver services with fewer dollars despite rising costs.


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