Arkansas’ April revenues of $588.9 million were boosted by better than predicted collections from sales and income taxes.
The Department of Finance and Administration said last week that April revenues were $27.3 million more than April 2011 and $31 million more than expected.
Revenue from the individual income tax of $466.1 million was $30 million more than expected and $29.4 million above April 2011 collections.
The state sales tax generated $181 million in April, almost $8 million more than in April 2011 and $2.4 million above expectations.
“This was a big month,” revenue director Richard Weiss said.
Collections so far in fiscal 2012, which will end June 30, total almost $4 billion, Weiss said. Revenue to date is $93.6 million more than forecast and $122 million more than at the same point in fiscal 2011.
Gov. Mike Beebe said unexpected revenue would be helpful if the state has to make up a significant shortfall in Medicaid funding in fiscal 2014.
“It’s too early to know whether or not we’re going to change the forecast for next year,” he said. “But if that trend continues it’s the kind of help and assistance that would certainly help Medicaid.”
John Selig, director of the Arkansas Human Services Department, said the state Medicaid program faces a $250 million to $400 million shortfall in fiscal 2014.
The $4.7 billion program in Arkansas serves almost 780,000 residents.
