Publication Sneak Peek: Our Two Cents

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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 August 2024 issue.

Department of Finance & Administration Revenue Report for July 2024

The July revenue report from the Arkansas Department of Finance and Administration shows that revenue is only slightly above forecast but below 2023 figures. The monthly DFA report for the first month of the Arkansas fiscal year shows net available general revenue for July was $527.7 million. This is 4.6% below last year’s July report but $2.8 million (0.5%) above what was forecast.

Individual income tax collections were $247.4 million in the report, down $28.7 million or 10.4% compared to 2023. This was slightly above forecast by $100,000 (0.1%). Individual income tax refunds were at $19.4 million for July, $3.6 million below last year and $1.6 million below what was forecast for the month.

The report showed corporate income tax collections were down to $23 million, a $8.3 million drop from last year and $3.3 million below forecast. Corporate tax refunds were $3.7 million, which was $900,000 above last year’s figures but $3.3 million below what was forecast. Sales and use tax collected $290.1 million, a $7.8 million, or 2.8%, increase from last year. According to the report, this was a 1% increase from what was forecast. In smaller revenue sources, the report showed tobacco revenue was $900,000 above forecast, while insurance and gaming revenue was $200,000 above forecast.

Arkansas has again ended its fiscal year with a significant surplus. The June report from the Department of Finance and Administration showed the state finished FY2024 with a $698.4 surplus after taking in $6.9 billion in revenue for the year.

Attorney General Opinion 2024-071

In Attorney General Opinion 2024-071 the AG responded to a question regarding whether or not the custodians’s decision to release “personnel or evaluation records” as redacted are consistent with the Arkansas Freedom of Information Act (FOIA). The AG determined that it is the statutory duty of their office under A.C.A. § 25-19-105(c)(3)(B) to state whether the custodians’ decision to release “personnel or evaluation records” is consistent with the FOIA. As custodian of the records, it appeared that the School District determined that (1) the information requested was both personnel records and employee-evaluation or job-performance records and (2) that the employee-evaluation and jobperformance records should be withheld, while the personnel records should be released with certain redactions. The attorney general was not provided with copies of any records. Thus, the AG cannot determine whether the District’s decision to classify, redact, and release is consistent with the FOIA. The AG can only set forth the legal standards that the custodian must apply to determine whether to release the records in question.

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