Arkansas

Arkansas revives road projects stalled over federal funding concerns, but officials say long-term HTF solution is essential.

Arkansas reported August revenues of $421.4 million, a figure that exceeds collections the same month last year by 5.5% and outpaces projections by 6.7%, according to the state Department of Finance and Administration.

With 20 years of experience in state and local government, Leigh Ann Biernat has joined investment banking firm Stephens Inc. as senior vice president for public finance.

Arkansas revenues reported for July were below the same month last year but above projections, state officials said.

When Arkansas' fiscal year 2015 ended on June 30, the state had a surplus of nearly $192 million, according to the Department of Finance and Administration.

The Arkansas legislature quickly approved bills to authorize GO bonds to help a Lockheed Martin factory project.

Arkansas revenues are expected to run about $164 million above the previous forecast in 2015, according to an updated report. However, the new forecast calls for a decline in the fiscal year beginning July 1.

Arkansas Gov. Asa Hutchinson plans to call a special session of the Legislature to approve bonds for Lockheed Martin's assembly plant for a next-generation vehicle for the U.S. Army and Marine Corps.