LITTLE ROCK, Ark. (AP) — Arkansas finance officials say the state’s revenue last month remained above expectations and higher than the same month last year.
The Department of Finance and Administration on Tuesday said the state’s net available revenue in September totaled $569.6 million, which is $50.7 million above the same month a year ago and $15.4 million above forecast. The state’s revenue so far for the fiscal year that began July 1 is more than $1.4 billion, which is $33.4 million above forecast.
The department said individual income and sales tax collections in September were both higher than the same month last year and are above forecast. The gain in individual income tax collections reflects payday timing differences compared to collections in September 2017 that officials said were accounted for in their monthly forecast.