Arkansas General Revenue Report

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Arkansas budget coffers were flush with new revenue entering fiscal year 2019 as strong sales tax collections and rise in car purchases reflected near across-the-board growth in most segments of the state’s economy, according to the monthly revenue report released Thursday by the Arkansas Department of Finance.

Based on DFA’s monthly revenue total, state fiscal officials reported that Arkansas jumpstarted the new fiscal year with net available revenue at $469.3 million, up $14.9 million or 3.3% above year ago levels, and $9 million or 2% ahead of the state’s forecast for the 12-month period that runs from July 1, 2018 to June 30, 2019. July gross general collections, a broader economic indicator that includes collections from all available categories, also increased by $7.7 million to $531.8 million, up 1.5% compared with the same period of fiscal 2018, and $7.2 million or 1.4% above the general forecast.    MORE

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