Arkansas Revenue Lags In August, Finance Office Says

Sep 2, 2016

Arkansas finance officials say the state's revenue in August fell below expectations and below the same month last year.

The Department of Finance and Administration on Friday said last month's net available revenue totaled $416.1 million, which is $5.2 million below August 2015 and $8.4 million below forecast. The state's net available revenue for the fiscal year that began July 1 totals $816.8 million, which is $3.8 million below the same point last year and $15.3 million below forecast

DFA said sales tax collections in August were below the same month last year and forecast, due partly to one-time audit payments received last year. Last month's individual income and corporate tax collections were also below the August 2015 figures and the forecast.