| Statewide |
| Kentucky | Permanent | Pension | Fund | |
| Actual | Actual | Revised | Recommended | Recommended |
| FY 2024 | FY 2025 | FY 2026 | FY 2027 | FY 2028 |
| SOURCE OF FUNDS | | | | | |
| General Fund | | | | | |
| Regular Appropriation | 200,000,000 | | | | |
| Special Appropriation | (127,320,800) | | | | |
| Budget Reduction-General Fund | | | (1,954,500) | | |
| Other | (3,000,000) | | (67,724,700) | | |
| Continuing Approp-General Fund | | 69,679,200 | 69,679,200 | | |
| Total General Fund | 69,679,200 | 69,679,200 | | | |
| Restricted Funds | | | | | |
| Balance Forward | | 35,371,191 | 75,518,600 | 118,518,600 | 108,018,600 |
| Current Receipts | 528,047 | 2,270,910 | 3,300,000 | 2,300,000 | 800,000 |
| Non-Revenue Receipts | 34,843,144 | 37,786,534 | 39,700,000 | 39,700,000 | 39,700,000 |
| Total Restricted Funds | 35,371,191 | 75,428,635 | 118,518,600 | 160,518,600 | 148,518,600 |
| TOTAL SOURCE OF FUNDS | 105,050,391 | 145,107,835 | 118,518,600 | 160,518,600 | 148,518,600 |
| EXPENDITURES BY CLASS | | | | | |
| Grants Loans Benefits | | | | 52,500,000 | 72,771,000 |
| TOTAL EXPENDITURES | | | | 52,500,000 | 72,771,000 |
| EXPENDITURES BY FUND SOURCE | | | | | |
| General Fund | | | | | |
| Restricted Funds | | | | 52,500,000 | 72,771,000 |
| TOTAL EXPENDITURES | | | | 52,500,000 | 72,771,000 |
The Kentucky Permanent Pension Fund appropriation unit was used to contain $200 million to provide financing in fiscal year 2023-24 to state agencies for salary improvement efforts.
Most of the revenues from the new sports wagering law, 87.5 percent of the excise taxes and application and license fees, are transferred to the Fund. Of the remaining amount, 10% is for the Kentucky Horse Racing and Gaming Commission and 2.5% for the Kentucky problem gambling assistance account.
The $67.7 million unexpended General Fund amount is directed in the Governor's 2026-28 budget to the beginning General Fund balance for fiscal year 2027.
The Governor's budget provides $40.5 million from sports wagering revenues to the Pre-K for All initiative in fiscal year 2028 to be administered by the Department of Education.
The expected balance at the end of fiscal year 2026 is estimated to be over $115 million. Of that amount, $52.5 million in fiscal year 2027 and $32,271,000 in fiscal year 2028 is transferred to support the health insurance costs of Kentucky's local school districts.
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