Arkansas finance officials say the state's revenue in February beat expectations, and the governor says the numbers reduce the likelihood of the budget cuts that he had told agencies were possible.
The state Department of Finance and Administration on Thursday said net available revenue last month totaled $276.7 million. That's $3.2 million below February 2016, but $40.9 million above forecast.
The state's net revenue for the fiscal year that began July 1 totals $3.4 billion, which is $19 million above the same point last year and $15 million below forecast.
Gov. Asa Hutchinson last month had told several agencies to draw up contingency plans for possible budget cuts after the state's revenue had fallen $57 million below forecast.
