Arkansas

State aid to Arkansas school districts must go up to keep pace with inflation, the Bureau of Legislative Research said.

Arkansas Treasurer Martha Shoffner is to appear at a legislative committee to face questions about purchases and sales from the state's investment bond portfolio.

Increased individual income tax revenue pushed Arkansas' monthly revenue total past expectations in September.

Arkansas Treasurer Martha Shoffner said she did not know the reasons behind premature bond sales from state's investment portfolio that lost almost $900,000 over the past two years.

Arkansas will pay a true interest cost of 1.62% on $225 million of grant anticipation revenue vehicle bonds priced won by JPMorgan in a competitive sale.

The University of Arkansas will use pledged athletic department revenue, largely from the football program, to support $18 million of bonds for a new academic building.

Little Rock, Ark., voters Tuesday approved $105 million of general obligation bonds supported by a 15-year extension of a property tax. Capital improvement projects will include street and drainage work.

Arkansas will begin work soon on highway projects financed with proceeds from Tuesday's competitive sale of $225 million of Garvee bonds. It is the first tranche from a $575 million Garvee program authorized by voters in 2011.

Crawford County, Ark., Judge John Hall said the county should know how much it will cost to build a new jail and where to build it in time for a March 2013 election.

The Little Rock, Ark., Board of Directors last week delayed a decision on how to allocate city funds to infrastructure projects until after a Sept. 11 bond election.

Pulaski Technical College trustees decided last week to delay indefinitely an election to set up a taxing district for the school.

Trustees of the Arkansas Public Employees Retirement System voted last week to increase the contributions required of state and local governments for the fourth year in a row.

Arkansas general fund collections in July totaled $461.2 million, up $26.4 million from July 2011 and $15.7 million more than expected.

An opinion poll conducted in mid-July found 49.5% of likely Arkansas voters oppose a plan to raise the sales tax to finance construction of a network of four-lane state highways.

State Sen. Jason Rapert, R-Bigelow, last week asked the Arkansas State Police to investigate a failed petition drive that sought an increase in the state's production tax on natural gas.

Arkansas election officials last week rejected petitions seeking an increase in the state's tax on natural gas production after more than 70% of the signatures were declared invalid.

Budget balances for states remain too low relative to annual expenditures, according to the National Governors Association and National Association of Budget Officers.

Better-than-expected collection levels pushed Arkansas general fund revenues to a record $4.75 billion in the recently completed fiscal 2012, with $510 million in June marking the highest monthly collection ever.

Voters in Bentonville School District No. 6, Ark., rejected a $135.7 million general obligation bond package that would have built the district's second high school.

The Little Rock, Ark. Board of Directors gave tentative approval last week to a September election asking voters to extend a property tax that would support general obligation bonds.