Publication Sneak Peek

This segment features content from other AAEA publications. Our Two Cents is a monthly publication available to subscribing districts. The following excerpt comes from the March 2023 issue.

Did You Know?

Department of Finance and Administration Revenue Report for February 2023

Gross general revenue in February totaled $572.4 million, up $44 million (8.3%) compared with February 2022, and up $58.3 million (11.3%) compared with the budget forecast.

February individual income tax revenue was $262.7 million, down 0.8% compared to February 2022 and 11.3% above forecast. February sales and use tax was $258.1 million, up 13.1% compared with February 2022, and 11.7% above forecast. Corporate income tax revenue in February was $21.1 million, up $14.1 million compared with February 2022 and $15.6 million above forecast.

Year-to-date (July 2022-February 2023) gross general revenue was $5.5 billion, up $318 million (6.1%) compared with the same period in the previous fiscal year and $263 million (5%) above forecast.

Revenue growth was above expectations again in February, showing continued economic growth in Arkansas. Also, tax refunds are on track with the forecast as the state enters the busiest months for filing. The revenue report shows that net available revenue – surplus – at the end of the first eight months was $250.2 million. The full report is available here.

Attorney General Opinion 2023-005

Attorney General Opinion 2023-005 addresses the following questions: Q1) May a justice of the peace be elected as a member of a school board of directors while maintaining the office of justice of the peace? Q2) If the answer is no, is there a penalty for holding both offices? The AG’s response: Q1) If the JP's term of office would overlap with the term of office on the school board, then the JP would be ineligible to serve on the school board. Q2) While there is no civil or criminal penalty for this kind of dual office holding, the person holding both offices is subject to removal. The full opinion can be viewed here.

2021-22 Annual Statistical Report

DESE recently released the 2021-22 Annual Statistical Report. This annual comprehensive report includes information for each school district on ADM, millage rates, debt, revenue, expenditures, etc.