Arkansas ends fiscal year with $78.7M surplus - KATV - Breaking News, Weather and Razorback Sports

Arkansas ends fiscal year with $78.7M surplus

Posted: Updated:
By ANDREW DeMILLO
Associated Press

LITTLE ROCK, Ark. (AP) - Arkansas' finance office says the state ended the fiscal year with a nearly $79 million budget surplus.

The Department of Finance and Administration reported Wednesday that the state's net available revenue for the fiscal year that ended June 30 totaled $5.02 billion. That's $4.5 million lower than the previous year, but $78.7 million higher than originally forecast.

The report means lawmakers will have more than $174 million in one-time money for various needs next year.

Officials said the state's individual income tax collections came in below last year's figures, but higher than forecast. They also said the state paid out less in income tax refunds than originally forecast.

The state's sales tax collections for the fiscal year came in lower than forecast, but above the previous year's figures.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Most Popular StoriesMost Popular StoriesMore>>

  • $30,000 worth of stolen sculptures from LR Riverfront Park are returned

    $30,000 worth of stolen sculptures from LR Riverfront Park are returned

    Monday, September 1 2014 12:12 PM EDT2014-09-01 16:12:15 GMT
    $30,000 worth of sculptures stolen from downtown were mysteriously returned Sunday morning. A couple found the sculptures in a black garbage bag inside of the Little Rock Vogel Schwartz Sculpture Garden at Riverfront Park. The Sizzling sisters, First Glance, and Conversation with Myself were all donated to the sculpture garden.More >>
    $30,000 worth of sculptures stolen from downtown were mysteriously returned Sunday morning. A couple found the sculptures in a black garbage bag inside of the Little Rock Vogel Schwartz Sculpture Garden at Riverfront Park. The Sizzling sisters, First Glance, and Conversation with Myself were all donated to the sculpture garden.More >>
  • "Lost Seal" from Civil War era returns to Saline County

    "Lost Seal" from Civil War era returns to Saline County

    Monday, September 1 2014 12:06 PM EDT2014-09-01 16:06:54 GMT
    Saline County celebrated the return of its“Lost Seal” by installing a historical civil war marker. The county hasn't had the seal since 1863 but it is now back in the county's possession. In 1996 Gary Smith of Pine Bluff discovered the seal with his metal detector in Grant County.More >>
    Saline County celebrated the return of its“Lost Seal” by installing a historical civil war marker. The county hasn't had the seal since 1863 but it is now back in the county's possession. In 1996 Gary Smith of Pine Bluff discovered the seal with his metal detector in Grant County.More >>
  • Metro Radar

    Metro Radar