State Revenues Exceed Forecast

Gov. Mike Huckabee recently praised state budget forecasters and noted that for the second consecutive month, state revenues have come in above forecast.

“That’s good news for those of us who guarded against premature budget cuts while also avoiding tax increases,” the governor said in a news release. “The fact that net available general revenues for July were 3 percent above July 2001 and 2.6 percent above the forecast confirms that the economy is turning around.

“I thank the professionals at the Arkansas Department of Finance and Administration for the excellent work they did when we revised the forecast in early June.”

According to the finance department, gross general revenues for July were $298.3 million, an increase of $8.5 million, or 2.9 percent, above the same time last year.

The July figures were also $5.7 million, or 1.9 percent, above the June 6 forecast.