Arkansas reinstates $60M that was cut from state's budget
LITTLE ROCK, Ark. (AP) -- Arkansas is reinstating $60 million that was cut from the state's budget earlier this year after seeing a rebound in sales tax collections over the past two months.
The state Department of Finance and Administration announced Friday, the last day of the fiscal year, that it is revising its forecast.
The state is expected to end the year with $5.3 billion in net revenue.
Gov. Asa Hutchinson in April announced a $70 million budget cut to make up for a loss in revenue.
DFA said most of the money made available through Friday's revision, $43 million, will go toward the state's Medicaid Trust Fund.