All money deposited in the state baseline and local growth fund created under KRS 136.648 shall be distributed monthly, according to the same schedule for distribution from the gross revenues and excise tax fund, as follows:
(1) The county growth portion shall be distributed in accordance with the formulas established in KRS 136.654.
(2) After the distribution required under subsection (1) of this section, the remaining balance shall be deposited in the general fund. This amount shall be known as the "state baseline portion," which shall represent, if sufficient funds are available, eighty-four and four-tenths percent (84.4%) of the total amount deposited in the gross revenues and excise tax fund, minus the amount of distributions made under KRS 136.652(1) and (3).