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Arkansas ends fiscal year with $1.6 Billion surplus

LITTLE ROCK, Ark – As the state of Arkansas closes the book on its business year, officials say it has built up a billion-dollar-plus nest egg.

Figures released July 5 by the Department of Finance and Administration show the Natural State’s fiscal year ended June 30 with a $1.628 billion surplus for 2022.

The Arkansas Revenue Stabilization Act, passed in 1944, prohibits deficit spending, so state officials must forecast out their expenses and income each year.

The full article can be read at ozarksfirst.com.

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