DFA: Arkansas general revenues $153.3M above forecast in April

Finance

LITTLE ROCK, Ark. – New figures show Arkansas is seeing more cash than expected coming into state accounts. 

According to a report released Tuesday by the Department of Finance and Administration, April collections total $947.8 million, which was $153.3 million above forecast and $260 million above last year. 

April net available general revenues totaled $779.6 million. In the report, DFA officials noted net available revenue results were above forecast in all major categories in April.  

Individual income tax refund claims remained below the typical tax season pattern, and according to DFA officials noted the state could catch up “to normal levels by May and June.”  

Governor Asa Hutchinson mentioned the general revenue report during his weekly COVID-19 update Tuesday, saying this is good news for the state and it is “a reflection of the return of our economy, the strength of our economy here in Arkansas and the confidence that the public has.”

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