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Home / AR: Governor Not Using Surplus to Fund All Budget NeedsAR: Governor Not Using Surplus to Fund All Budget Needs
Last Updated on Friday, 5 December 2008 11:30 Written by rslcpol Friday, 5 December 2008 11:08
You won’t be ready many stories this year about states running surpluses. Though don’t get too excited, it appears that Arkansas has some restrictions on just how those surplus funds can be expended. From ArkansasBusiness.com:
Beebe said he hasn’t finalized his proposal for using part of the state’s projected $300 million surplus to pay for some ongoing needs, but said the two most critical areas to be funded are prisons and Medicaid.
“We’re not talking about spending $150 million a year in one-time money to plug gaps. I think that’s more than what we’ll have,” Beebe told reporters after speaking to the Arkansas Farm Bureau’s annual convention. “But $50 million is something, that under a worst-case scenario, would be reasonable.”