Southwest

Citing better-than-expected revenues during the first five months of fiscal 2011, Arkansas Gov. Mike Beebe last week ordered the Department of Finance and Administration to reinstate cost-of-living adjustments, career-service recognitions, and merit pay for state employees.

The city of Surprise will use loans from a number of its accounts to cover shortfalls resulting from the misapplication of $73 million of impact fee revenues.

WASHINGTON — The Internal Revenue Service is auditing $147.5 million of auction-rate securities issued by the New Mexico Hospital Equipment Loan Council on behalf of the nonprofit Presbyterian Healthcare Service in 2004 and refunded in 2008.

DALLAS — The final report on highway financing in Arkansas, delivered to state leaders on Wednesday, recommends asking voters to approve higher taxes to support $1.8 billion of revenue bonds for transportation projects.

DALLAS — Kansas state tax receipts in November failed to meet forecasters’ projections by a slim margin, but still posted a significant gain over year-ago collections.

DALLAS — Faced with recurring budget gaps, Arizona Gov. Jan Brewer is proposing a series of steps designed to improve the state economy, including budget cuts and financial incentives for business.

DALLAS — Colorado state Sen. Chris Romer, a former public finance consultant and the son of ex-Governor Roy Romer, announced plans Tuesday to run for mayor of Denver.

DALLAS — A statewide revolving loan program to upgrade and improve municipal water and sewer systems in Kansas will be financed with proceeds from this week’s negotiated sale of $231.2 million of revenue bonds.

A proposed bond-financed entertainment complex in Irving, Tex,, won't generate sufficient revenue to support the debt on the facility, according to a new financial study by opponents of the project.

DALLAS — Transportation officials are considering funding options for a $4.4 billion expansion of Interstate 35E between Dallas and Denton that could be the largest of several major projects in the area.