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Final FY2025 receipts beat estimates; SGF reappropriations total $517.3 million and budget outlook shows tightening in FY2027
Summary
KLRD reported FY2025 state general fund (SGF) receipts exceeded estimates by $132.3 million; KLRD transferred a statutory share into the Budget Stabilization Fund, and staff presented a preliminary SGF profile showing a projected negative ending balance in FY2028 absent further adjustments.
Kansas Legislative Research Department analysts reported to the Legislative Budget Committee that final fiscal-year 2025 state general fund (SGF) receipts exceeded the approved estimate by about $132.3 million (a 1.3% surplus). KLRD said individual income taxes were the primary driver, exceeding estimate by about $225.7 million.
Edward Penner (KLRD) told the committee that part of the apparent gap between tax receipts and total receipts was explained by a statutory transfer mechanism that moved ~ $124.3 million (50% of certain excess tax receipts) into the Budget Stabilization Fund. Penner said the balance of that fund, as of Aug. 15, was about $1.907 billion.
KLRD noted an operational…
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