Nine months into the state fiscal year, Arkansas’s revenue collection is $289 million below where it was this time last year, a 5.6% decrease. Year-to-date net available general revenue totaled $4.87 billion as of March, the state Department of Finance and Administration said in a report released Tuesday.
That’s an improvement over the February revenue report, which showed a year-to-date decline of nearly 7%. Tax collection increased substantially in March: The monthly figure for net available general revenue was up $34 million over the same month in 2023.
The year-to-date figure beat the state’s forecast by $78 million, or 1.6%, the report said. The March figure is almost 18% above forecast for that month. But, as always, take those economic forecasts with a grain of salt — the state tends to lowball the projected numbers, which makes them easy to outperform.
