Arkansas state budget (2008-2009)
| Note: This article was last updated in 2009. Click here for more recent information on state budgets and finances. |
Arkansas was not expected to have a budget gap for fiscal year 2009. However, reports predicted a $146 million deficit for fiscal year 2010.[1]
Budget background
The Arkansas fiscal year begins July 1 and ends June 30; however, the biennial period is a two year period that usually begins July 1 of the odd-numbered year and ends June 30 of the next odd-numbered year. Effective January 1, 2009 the state legislature was required to meet every year on the second Monday in January. Additionally, a bill other than an appropriation bill may be considered in a fiscal session if two-thirds of the members of both the House and the Senate approve consideration of the bill. However, before the budget is considered by both houses, first the state's agencies must make individual recommendations to the governor, who proceeds to review the requests along with estimated revenue data for the upcoming biennium or fiscal year.[2][3]
Budget figures
The following table provides a history of the state's expenditures and gross domestic product (GDP).
| Fiscal year | Expenditures (billions) | GDP (billions) |
|---|---|---|
| 2000 | $15.4[4] | $64.3[4] |
| 2001 | $16.3[4] | $66.0[4] |
| 2002 | $12.2[4] | $66.8[4] |
| 2003 | $15.5[4] | $75.7[4] |
| 2004 | $16.3[4] | $82.1[4] |
| 2005 | $17.2[4] | $86.1[4] |
| 2006 | $18.5[4] | $90.9[4] |
| 2007 | $19.8[4] | $95.4[4] |
| 2008 | $21.3[4] | $100.1[4] |
| 2009 | $22.9*[4] | $105.1*[4] |
- NOTE: The figures for FY 2009 had not yet been finalized at the time this data was compiled.
The state of the economy
Gov. Mike Beebe 2009 State of the State Address |
As of 2009:
- According to state officials, the Health Department was in need of additional revenue due to increases in medical care, staff recruitment and pharmacy services. Additionally, the state department saw an increase in patients that didn't pay for services because they weren't covered by insurance and weren't eligible for Medicaid or Medicare.[5]
- According to state officials, state revenues were $41.5 million over budget in February 2009. Chief Financial Officer Richard Weiss said the projections for 2009 would hold steady, which officials said made it likely that Governor Beebe's proposed $0.01 cut to the state's grocery tax could be supported.[6] However, despite increased revenue, Weiss said February 2009's numbers consisted mainly of income tax paid on severance packages of laid off workers.[7]
- Net available revenues totaled $207.3 million, $16.4 million above last year and $41.5 million above forecast. Gross general revenues totaled $396 million, $20.7 million above last year and $30.2 million above forecast.[6]
See also
- Arkansas government sector lobbying
- Arkansas state budget and finances
Footnotes
- ↑ Center on Budget and Policy Priorities, "State budget troubles worsen," February 10,2009
- ↑ State of Arkansas, "Budget Process," accessed March 3,2009
- ↑ State of Arkansas, "Office of Budget," accessed March 3,2009
- ↑ 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 4.10 4.11 4.12 4.13 4.14 4.15 4.16 4.17 4.18 4.19 US Government Spending, "Arkansas State and Local spending," accessed March 3,2009
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedGaps - ↑ 6.0 6.1 WXVT, "Ark. revenues up almost $42M in February," March 3,2009
- ↑ Arkansas News, "Revenue report holding, fiscal officer says," March 3,2009
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