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ARKANSAS

Arkansas

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    • Budget timeframe: Annual

      Fiscal Year begins: July 1

      Find the legislative session calendar here.

      Find the current state budget here.

      Find the current legislative leaders here.

       

      Arkansas Gov. BeebeArkansas Gov. Beebe
      Office of Governor Mike Beebe
      State Capitol
      Suite 250
      Little Rock, AR 72201
      Phone: (501) 682-2345
      Fax: (501) 682-1382
      http://www.governor.arkansas.gov/

       

       

      Brandon Sharp, Administrator
      Department of Finance & Administration
      P.O. Box 3278
      Little Rock, AR 72203
      Phone (501) 682-1941
      Fax: (501) 682-1086
      http://www.state.ar.us/dfa/budget/

      brandon.sharp@dfa.arkansas.gov

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

       

      Arkansas is required to pass a “balanced budget." Section 19-4-201 of state law mandates that proposed expenditures shall not exceed estimated available resources.  But Amendment 20 to 1874 the Constitution does permit the State to incur indebtedness with the consent of a majority of the electorate.  As there are no statutory requirements to govern what kinds of assumptions can be made about revenue or expenses, the Arkansas budget will be “unbalanced” in different ways in different years.  Arkansas law forbids the carrying over of a deficit from one year to the next.

       

      The State of Arkansas has one governmental fund, which is the General Fund.  The State’s budget is adopted in accordance with a statutory cash basis of accounting, which is not in accordance with Generally Accepted Accounting Principles (GAAP).  Although Arkansas budgets its only major fund, the General Fund, it does not budget revenues for that fund.  The State only budgets expenditures. [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

      AR Policy  Foundation logo

       

       

       

    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.