Arkansas Gov. Mike Beebe last week authorized the release of rainy-day funds and other financial transfers to avoid significant cuts in agency budgets due to an unanticipated shortfall in April revenue.

The moves include use of $17.4 million from the budget stabilization fund authorized by the General Assembly in 2009, a shift of $17.3 million in general revenue from the education facilities partnership fund to the public school fund, and a reallocation of $6.3 million in federal funds to avoid cuts in the state’s Medicaid program.

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