FY 2023 Kentucky Transportation Cabinet Budget Review
Review of the FY 2023 budget for the Kentucky Transportation Cabinet, including enacted road fund estimates versus actual revenue, revenue growth by quarter, and actual revenues compared to FY 2022. The analysis shows insights into revenue sources such as motor fuels, motor vehicle usage, and other areas. Additionally, the enacted road fund revenue estimates for FY 2024 are provided for reference.
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KENTUCKY TRANSPORTATION CABINET Budget Review Subcommittee on Transportation Fiscal Year 2023 Closeout Robin Brewer, Executive Director, Office of Budget and Fiscal Management August 2, 2023
FY 2023: Enacted Road Fund Estimate vs. Actual Revenue 2 Enacted Revenue Est. Actual 798.3 Surplus $ -35.5 $ 833.8 Motor Fuels Motor Vehicle Usage 603.7 56.6 660.3 283.6 294.6 11.0 Other $1,721.0 $1,753.3 TOTAL $ 32.3 (in millions)
FY 2023 Road Fund Revenue Growth by Quarter 3 10.0% 7.3% 6.1% 5.7% 5.0% (Millions) 0.0% -0.3% -5.0%
FY 2023 Actual Revenues Compared to FY 2022 Actual Revenues 4 % FY 2023 FY 2022 Difference Change Motor Fuels $798.3 $774.6 $23.6 3.0 Motor Vehicle Usage 660.3 629.1 31.3 5.0 Other 294.6 271.7 23.1 7.8 $1,753.3 $1,675.4 $78.0 4.7 TOTAL (in millions)
Enacted Road Fund Revenue Estimates for FY 2024 5 FY 2024 Enacted Revenue Estimate Road Fund Revenues Motor Fuels $817.2 Motor Vehicle Usage $569.1 Motor Vehicle License $121.7 Weight Distance $96.6 Other $44.3 Motor Vehicle Operators $28.3 Investment $2.1 Total Road Fund $1,679.2 (in millions)
