Post by pavel on Feb 3, 2016 6:53:06 GMT -6
Gov. Asa Hutchinson's administration is projecting a $171.9 million -- or 2.7 percent -- growth in total general-revenue tax collections from the current fiscal year, to $6.58 billion in fiscal 2017, state officials said Tuesday.
Also, seven months into the current fiscal year, the administration predicts a general-revenue surplus of $35.9 million when the fiscal 2016 ends June 30.
The state Department of Finance and Administration forecasts that the net general revenue available to state agencies will increase by $106.8 million, or 2 percent, in fiscal 2017 to $5.33 billion, department Director Larry Walther said in a letter to the Legislative Council's co-chairmen, Rep. David Branscum, R-Marshall, and Sen. Bill Sample, R-Hot Springs.
State tax refunds and several other government expenditures come off the top of total general revenue, leaving "net" general revenue that agencies are allowed to spend.
Read more: www.arkansasonline.com/news/2016/feb/03/state-s-17-outlook-adds-106-8m-to-agenc/?f=news-arkansas
Also, seven months into the current fiscal year, the administration predicts a general-revenue surplus of $35.9 million when the fiscal 2016 ends June 30.
The state Department of Finance and Administration forecasts that the net general revenue available to state agencies will increase by $106.8 million, or 2 percent, in fiscal 2017 to $5.33 billion, department Director Larry Walther said in a letter to the Legislative Council's co-chairmen, Rep. David Branscum, R-Marshall, and Sen. Bill Sample, R-Hot Springs.
State tax refunds and several other government expenditures come off the top of total general revenue, leaving "net" general revenue that agencies are allowed to spend.
Read more: www.arkansasonline.com/news/2016/feb/03/state-s-17-outlook-adds-106-8m-to-agenc/?f=news-arkansas