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Arkansas Legislative Council hears November revenue uptick; forecast variance grows
Summary
Legislative Economist Dr. Carlos Silva told the Arkansas Legislative Council that November gross general revenues were about $3.31 billion year‑to‑date, up $58.9 million (1.8%) from the prior year; net revenues available rose to $2.82 billion, a $81.2 million (3.0%) increase.
Dr. Carlos Silva, legislative economist with the Bureau of Legislative Research, told the Arkansas Legislative Council on Dec. 19 that Gross General Revenues year‑to‑date are approximately $3.31 billion, an increase of $58.9 million, or 1.8 percent, above the $3.25 billion collected the prior fiscal year‑to‑date. He said Net General Revenue available for distribution was $2.82 billion, an increase of $81.2 million, or 3.0 percent, from November 2024.
"The cumulative deviation increased by $18.2 million for the month, which is $108.7 million above the forecast," Dr. Silva said during his presentation. Secretary Jim Hudson of the Department of Finance & Administration was recognized to answer members’ questions following the presentation.
Council members did not take formal action on the revenue report; the presentation and Q&A were recorded in the minutes. Staff and budget committees will use the updated figures as the legislature moves into its budget deliberations for the next fiscal year.
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