The money rolls in | Arkansas Blog

Wednesday, May 3, 2006

The money rolls in

Posted By on Wed, May 3, 2006 at 2:36 PM

As we predicted earlier in the week, the state Finance and Administration Department has revised its revenue forecast because income continues to outstrip earlier forecasts. It’s the second upward revision since the 2005 legislature passed the two-year budget.

As it now stands, DF&A predicts this fiscal year will end June 30 with a $332 million surplus after funding all appropriations. It predicts the state will fund all appropriation categories in the second year of the budget period, fiscal 2007, with a $234 million surplus. In July 2005, the date of the last revision, the surplus had been forecast at $98.4 million for this year and $68.7 million for fiscal year 2007.

Officials caution that there’s been a great volatility in growth rates of different revenue streams -- the use tax for one. Fuel prices and rising interest rates are a couple of  key economic factors that could dramatically affect the future revenue picture. There was renewed talk today from Richard Weiss, the DF&A director, about the need for a rainy day fund to cushion the state against unexpected swings in revenue.


Comments (3)

Showing 1-3 of 3

Add a comment

Subscribe to this thread:
Showing 1-3 of 3

Add a comment

More by Max Brantley

Readers also liked…

  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017
  • LR Police Chief Buckner in running for Charleston, S.C. job

    KATV reports that Little Rock Police Chief Kenton Buckner is one of five finalists for the job of police chief in Charleston, S.C., and will be visit Charleston next week as part of the process.
    • Feb 2, 2018
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017

Most Viewed

Most Recent Comments



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation