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State Begins Fiscal Year With $23.7M Surplus
posted 07/02/09
11:58 am
The Arkansas Department of Finance and Administration reported Thursday that the state's net available revenues for the fiscal year that ended this week totaled $4.4 billion. That's $23.7 million above predictions.
The state's finances in June, however, fell below last year's numbers and were below forecast by $20.4 million.
DFA director Richard Weiss says the financial outlook for the state over the next six months isn't good, but said he doesn't see a need to change its forecast.
The state had previously built a $310 million surplus, a third of which lawmakers set aside to pay for expected shortfalls in this year's budget.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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