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Arkansas Finishes Fiscal Year with $1.63 Billion Surplus

On July 5th, the Arkansas Department of Finance and Administration (DFA) released final fiscal year 2022 budget numbers for the State of Arkansas. The state closed out the fiscal year, which ended June 30th, with a net surplus of $1.63 billion for the fiscal year. The surplus level represents the largest in Arkansas history despite recently enacted tax cuts approved by the general assembly and signed into law by Governor Hutchinson. The strong revenue numbers are attributable to a strong economy bolstered by federal economic stimulus funding and pandemic assistance among other factors.

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