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03/04/10 Revenues Come in Above Forecast in February |
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LITTLE ROCK, Ark. (AP) - Arkansas financial officials says the state's revenues came in above expectations last month - but are below last year's collections. The Arkansas Department of Finance and Administration on Tuesday said the state's net available revenues in February totaled $181.5 million. That's $25.9 million below last year's figures and $14.3 million above forecast. Deputy Director Tim Leathers said the revenues were higher than forecast mostly because the state handed out less in income tax refunds than expected. The state's individual income and sales tax collections were both lower than last year's figures and lower than the state had expected. Arkansas has cut $206 million from its budget over the past year because of drops in tax revenues. |