
Kentucky Ends Fiscal Year 2025 with $313 Million Surplus
Clip: Season 4 Episode 18 | 4m 17sVideo has Closed Captions
Gov. Beshear says most of the money will go to the Budget Reserve Trust Fund.
Gov. Beshear announced Thursday the state ended fiscal year 2025 with a $313.5 million General Fund surplus. Must of that money will go to the Budget Reserve Trust Fund, with the remaining $62.1 million going to help fund things like the state's response to natural disasters.
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Kentucky Edition is a local public television program presented by KET

Kentucky Ends Fiscal Year 2025 with $313 Million Surplus
Clip: Season 4 Episode 18 | 4m 17sVideo has Closed Captions
Gov. Beshear announced Thursday the state ended fiscal year 2025 with a $313.5 million General Fund surplus. Must of that money will go to the Budget Reserve Trust Fund, with the remaining $62.1 million going to help fund things like the state's response to natural disasters.
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Learn Moreabout PBS online sponsorshipCongressman Hal Rogers, a Republican from Kentucky's fifth district, is praising President Donald Trump's decision to authorize federal help for communities affected by storms in April and May.
As we told you yesterday, the declaration covers counties with damage from storms that hit April.
But other counties will get help to deal with storms that hit May 16th and 17th.
The storms brought deadly tornadoes to Laurel and Pulaski counties.
Congressman Rogers put out a statement about the decision, says, quote, this federal assistance is critical as our communities clean up and rebuild after these natural disasters.
Massive damages were sustained from the May 4th tornado at the London Corporate Airport, South Kentucky Rec, and many other public structures and utilities.
End quote.
Governor Andy Beshear says he's grateful for the president's decision on a disaster declaration.
This morning, the governor talked about the impact, the timing of the decision and FEMA's work in Kentucky.
The support is essential for the communities to rebuild.
That we don't see counties or city governments bankrupted by a natural disaster that just inflicts so much damage.
So I'm grateful to the president and secretary know.
I also told the president that the FEMA team members on the ground after each of these natural disasters are doing great work for Kentuckians in public assistance for April.
We now have 90 counties approved based on the president's action.
And those were for severe storms, straight line winds, tornadoes, flooding, landslides and mudslides.
Those occurred on April 2nd.
And for the severe storms, straight line winds and tornadoes on May 16 to 17, 39 counties have been approved for public assistance.
But this is, a game changer for Laurel and Pulaski County.
Each of which had so much damage, there was no way that the county would be able to cover it.
They say took longer than it has in the recent past, which is all I can speak to the last five and a half years.
And he didn't he didn't offer any explanation, but I didn't ask for it either.
These dollars are absolutely critical.
They're coming in nothing but appreciative and grateful to the president and secretary known for agreeing to it.
We're still trying to determine whether it's a specific dollar amount or it's the regular, 75% of, of coverage, but but either way, it's a it's a big help, to these counties.
He was very positive, on the phone.
And I told him his FEMA people were doing a really good job on the ground because it's true.
I understand that I go out there and when when a policy from this president is hurting, Kentuckians are criticized.
But I can only have credibility, when I when I also admit that that, a part of this federal government is doing a good job and the FEMA group on the ground is doing a really good job.
Governor Beshear also thanked Kentucky's congressional delegation for its help pushing for the disaster declaration.
And he also talked about Kentucky's budget picture.
Less than a month after the end of the last fiscal year, the 2024 2025 fiscal year has ended with a general fund surplus of $313.5 million of that amount, 251.3 million will be deposited in the Budget Reserve Trust Fund, and the remaining 62.1 million will fund necessary government expenses like responding to natural disasters, matching funds for FEMA disaster grants and forest fire suppression.
The surplus was made up of $131 million of revenue more than budgeted.
So we had a projected amount of revenue and we beat that this year.
But we as an executive branch, also spent $147 million less than budgeted, meaning we made sure we treated the taxpayer money the way it should be treated.
And then we received 35 million in FEMA reimbursements.
I'm proud to say that we secured a surplus every year I've been in office.
We also had a road fund surplus of 61.6 million.
And all of those funds will support the biennial highway construction programs.
The new fiscal year started July 1st.
The governor says the budget picture won't be as rosy this year.
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