Arkansas Gov. Mike Beebe cut another $106 million from the fiscal 2010 budget last week as revenue continues to drop.He had announced a $100 million cut in the budget on Oct. 21.
Beebe said he expects no further cuts before fiscal 2010 ends June 30.
General revenue in December totaled $429.3 million, down $28.3 million from December 2008 and $30.3 million less than expected.
Revenue for the first six months of fiscal 2010 totals $2.57 billion, $80 million less than in the same period of fiscal 2009 and $49.7 million less than expected in the October 2009 revised forecast.
Richard Weiss, director of the Department of Finance and Administration, said $4.48 billion of revenue will be available for the general fund budget in fiscal 2011, based on current revenue projections.
The General Assembly will meet Feb. 8 for a 30-day budget session.
