-
Headlines : Arkansas
Lawmakers hope for progress on state budget
Arkansas legislative leaders say they hope to soon end an impasse over the state budget bill that's been delayed over a Republican push to cut more in agency spending.
-
Headlines : Arkansas
Arkansas lawmakers convene for fiscal session
The session is the second held under an amendment Arkansas voters approved in 2008 requiring the Legislature to meet and budget annually, rather than every other year. The biggest task facing legislators is considering the $4.7 billion budget that Beebe has proposed for the fiscal year beginning July 1.
-
Headlines : Arkansas
Beebe proposes $163M increase in Ark. budget
Medicaid and public schools would receive the bulk of a $163 million funding increase in a $4.7 billion budget that Arkansas Gov. Mike Beebe presented.
-
Solutions : Arkansas
Advancing Virtual Education in Arkansas
Explanation and review of virtual education in Arkansas.
-
Solutions : Arkansas
Budget Alternative: 2011-2013 Biennium
Funding for core Arkansas government functions-education, corrections and transportation-could occur at slightly increased rates while other operations are frozen at current levels, providing $31 million in savings to cut state income, capital gains and grocery tax rates.
- View All News Stories
State Budget Shortfall: $162 million. Center for Budget Priorities Jan. 28, 2010.
Arkansas 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/
Mike Stormes, 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/
budget@dfa.arkansas.gov
2012 Legislative Calendar: Regular Session convenes February 13, adjourns March 13, but can be extended by a 3/4 vote of legislature.
Legislative Budget Leaders
Sen. Paul Miller (D), Chair, Senate Revenue and Tax Committee, 870-368-7329
Sen. Bobby Glover (D), Vice-Chair, Senate Revenue and Tax Committee, 870-552-7150, cnhc@juno.com
Rep. Davy Carter (R), Chair, House Revenue and Tax Committee, davy.carter@gmail.com 501-605-1346
Rep. Larry Cowling (D), Vice-Chair, House Revenue and Tax Committee, larry.cowling@arkansashouse.org 870-542-7453
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.
|
|
 |
Revenue :
-
HEADLINES: Arkansas
Ark. House passes annual sales tax holiday
The Arkansas House on Wednesday passed a measure that would grant a sales tax holiday during the back-to-school shopping season, even as the Joint Budget Committee pondered an accounting quirk that puts the state on the hook for $23.5 million to pay for state workers for leap years and other odd days.
-
Solutions: Arkansas
Advancing Virtual Education in Arkansas
Explanation and review of virtual education in Arkansas.
-
Solutions: Arkansas
Budget Alternative: 2011-2013 Biennium
Funding for core Arkansas government functions-education, corrections and transportation-could occur at slightly increased rates while other operations are frozen at current levels, providing $31 million in savings to cut state income, capital gains and grocery tax rates.
