FRANKFORT — The numbers are in for January and, despite encouraging news, Patton administration officials said Wednesday the state is looking at revenue shortfalls in the General Fund and Road Fund.

        The group of economists that sets the state's official revenue forecast is scheduled to meet today and could revise estimates. If that happens, it will trigger a series of events to cut spending and withhold appropriations and possibly set up confrontations with the General Assembly.

        Budget director James Ramsey said January receipts for the General Fund were 9.4 percent greater than the same month a year ago. Through the first seven months of the fiscal year, receipts are 4.1 percent greater. But the budget was based on growth of 5.2 percent for the year, so receipts are still lagging well behind.

        Mr. Ramsey said the January numbers were also inflated by some matters unrelated to actual economic growth.

        “It could make some difference at the margin, but not anything major,” Mr. Ramsey said in an interview.

        The figures are even worse for the Road Fund, which is lagging 2 percent behind last year's receipts through January.

        Transportation Cabinet budget director Debra Gabbard told the Senate Transportation Committee the Road Fund will fall some $47.6 million short of expectations this year and $52.7 million short next year.

        Sen. Charlie Borders, R-Russell, said he was concerned the cabinet was spending money on things like a new $100 million building, and that it had never spent all the money it was budgeted every year.

        “Maybe it's too late to stop that thing,” said Mr. Borders, who previously voted for the budget that authorized the building, which is being financed with bonds that mean annual debt service of about $11 million out of the $1 billion annual Road Fund budget.

        Mr. Borders also said the Road Fund is not in bad shape because he thinks the state has never spent all it had for road construction.

        Two weeks ago, Mr. Ramsey told legislators the General Fund could fall as much as $300 million short of spending directives this year and next.

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