State Revenues Dip, But Finance Chief Says No Slowdown Yet

LITTLE ROCK, AR - Arkansas' revenues fell below last year's figures and economists' predictions last month.  But the state finance chief says today there's not enough data to suggest an economic slowdown.

State Finance and Administration director Richard Weiss says the state is still on track to meet its forecast revenue numbers for the year.

The state reported Tuesday that its net available revenues in November totaled $309 million for a 2.4 percent decrease over last year.  Revenues were below forecast by $6.8 million, or 2.1 percent.

Weiss blamed the drop on a $6.4 million payment made because of advance refunding of college savings bonds.  The state had originally only expected to pay $1 million last month, but the payment will cover a payment normally made in May.

(Copyright 2007 by The Associated Press.  All Rights Reserved.)