# Gov. Beshear highlights record surplus, economic momentum in Team Kentucky Update **Published:** 2026-08-13T18:04:24.000Z **Source:** [Office of the Governor](https://kentucky.gov/Pages/Activity-stream.aspx?n=GovernorBeshear&prId=2815) **AI-generated:** yes (claude-haiku-4-5-20251001) **Canonical:** https://feeds.lexingtonky.news/article/gov-beshear-highlights-record-surplus-economic-momentum-in-team-kentucky-update FRANKFORT, Ky. — Gov. Andy Beshear provided updates on Kentucky's economic performance and state initiatives during a recent Team Kentucky Update, highlighting a seventh consecutive budget surplus and continued job growth across the commonwealth. [According to the Governor's office](https://kentucky.gov/Pages/Activity-stream.aspx?n=GovernorBeshear&prId=2815), Beshear discussed General Fund receipts and economic development achievements. [Kentucky ended fiscal year 2026 with its seventh consecutive budget surplus, as General Fund receipts increased 1.7% to nearly $16 billion](https://www.wpkyonline.com/2026/07/16/ky-executive-branch-announces-surprise-fy26-budget-surplus/news-edge/). The stronger-than-expected performance marked a significant turnaround from earlier projections that anticipated a $156 million revenue shortfall. [Revenues finished $320.6 million above the enacted budget and $476.6 million above the official forecast](https://www.wpkyonline.com/2026/07/16/ky-executive-branch-announces-surprise-fy26-budget-surplus/news-edge/), providing the General Assembly with additional flexibility to address previous budget reductions. Beshear attributed the strong performance to his administration's fiscal management, noting that [the governor said his administration plans to work with lawmakers to recommend using the surplus to address reductions in Medicaid, behavioral health services and senior meal programs](https://www.wpkyonline.com/2026/07/16/ky-executive-branch-announces-surprise-fy26-budget-surplus/news-edge/). On the economic development front, [Beshear highlighted growth in Kentucky's food and beverage industry and announced two new Build-Ready sites in Lincoln County](https://lexingtonky.news/2026/03/05/gov-beshear-provides-team-kentucky-update-20/). [Kentucky secured its place in the top five for economic development projects per capita, maintaining a top-five ranking during all six years of the Beshear administration](https://lexingtonky.news/2026/03/05/gov-beshear-provides-team-kentucky-update-20/). ## Sources - [Office of the Governor](https://kentucky.gov/Pages/Activity-stream.aspx?n=GovernorBeshear&prId=2815) - [Kentucky Executive Branch announces surprise FY26 budget surplus](https://www.wpkyonline.com/2026/07/16/ky-executive-branch-announces-surprise-fy26-budget-surplus/news-edge/) - [Gov. Beshear Provides Team Kentucky Update (Lexington Times)](https://lexingtonky.news/2026/03/05/gov-beshear-provides-team-kentucky-update-20/) --- This article was generated by AI (claude-haiku-4-5-20251001) based on source material from Office of the Governor, enriched with 2 web searches. The original source is available at https://kentucky.gov/Pages/Activity-stream.aspx?n=GovernorBeshear&prId=2815.