Arkansas

Arkansas revenues are slightly ahead of projections in the second month of the fiscal year, state officials say.

Texas emerged as the top state in bond volume in the first half of 2014 as issuance across the Southwest rose 1.9% compared to the same time last year, data from Thomson Reuters shows.

Lagging corporate and sales tax collections tugged Arkansas' July revenue below forecast for the first month of the fiscal year, officials said.

Arkansas' finance office says the state ended the fiscal year with a nearly $79 million budget surplus despite a slight reduction in net revenues.

The University of Arkansas System plans to issue $41 million of revenue bonds for its Fayetteville and Fort Smith campuses.

Arkansas is on track to fully fund its fiscal year 2014 budget that ends this month, despite a 5.6% drop in May revenues, officials said.

After a battle over how to expand Medicaid coverage in the state, Arkansas lawmakers have approved a $5 billion budget.

With refunding opportunities fading, municipal bond volume in the Southwest region fell 13% from 2012 to $56 billion in 2013.

Arkansas Gov. Mike Beebe proposes increased spending for education and prisons under a $5 billion budget.

The University of Arkansas' 20-year master plan for its Fort Smith campus is expected to require about $200 million, according to chancellor Paul Beran.

Arkansas' year-to-date revenues through November are running 3.5% above last year's levels, according to the state Department of Finance and Administration.

The Fort Smith, Ark., Board of Directors unanimously agreed to issue up to $150 million in industrial development revenue bonds for an expansion at Gerber Products Co.'s plant.

Arkansas plans to issue $200 million of grant anticipation and revenue bonds this week to improve its interstate highways.

Arkansas lawmakers approved a plan to set aside $43 million in surplus money to limit increases in teacher health premiums.

Arkansas may draw on its 2013 surplus to soften a proposed 50% increase in school employee health insurance premiums.

A revival in Arkansas's sales tax revenues overcame August's weak income tax collections.

Investments held by Arkansas Public Employees Retirement System topped $6.6 billion in fiscal 2013, up almost 16% from final 2012 numbers.

Cuts in state income tax would hurt working people, says Arkansas Democratic gubernatorial candidate Mike Ross.

Contrasting with a 10% national decline in municipal bond volume for the first half of 2013, the southwest region recorded a 3% lift to $29.7 billion.

Arkansas will issue $500 million of 10-year bonds for highway projects in September, down from an initial projection of $1.3 billion of new debt. More pay-as-you-go financing will be used.