Less than two weeks after an improving month of state revenues, Gov. Mike Beebe announced an increase in the general revenue forecast for the last two months of the current fiscal year, which ends June 30.
Beebe said that with the adjustment, an additional $39.4 million will flow into the budget, “fully funding Category 'B' of the Revenue Stabiliz
ation Act. This includes $10 million in “rainy-day” money to help with unforeseen costs in the coming months, as well as additional support for Medicaid, higher-education institutions and some state agencies.”
The forecast for FY 2013, which begins July 1, will not change, the Governor's office said.
Talk Business will update this story later today.