Department of Finance urges Arkansas Governor to Cut States Budget
By: RNS
Updated: January 13, 2010
(Little Rock, AR) Governor Mike Beebe has accepted a recommendation by the Arkansas Department of Finance and Administration to cut the state budget by an additional $106 million for the current fiscal year.
The recommendation comes with a forecast of continued shortfalls in State revenues.
The governors proposed balanced budget for Fiscal Year 2011, which will be detailed by DF&A officials, anticipates a return to current budget levels on July 1, 2010.
The revised forecast means a 2.4% budget reduction across-the-board. Other education funds will be used to protect public education and adequacy requirements.
Rainy-day funds and other set-asides will be used to lessen the impact of the cuts for the Departments of Human Services, Correction and Community Corrections.
