LITTLE ROCK, Ark. (AP) – Arkansas Gov. Asa Hutchinson has announced a $70 million state budget cut to offset a revenue shortfall for the fiscal year.
Hutchinson announced the budget cuts Friday. The governor says that reducing spending to achieve cuts to the state’s $5.2 billion budget would affect some agencies that are categorized in the Revenue Stabilization Act. The fiscal year ends June 30.
The Arkansas Department of Finance and Administration says state agencies will be able to absorb the cuts by not getting full funding for programs and projects that aren’t essential or necessary.
Hutchinson says there won’t be any disruptions in services and no reductions in jobs. Despite the call for cuts, Hutchinson says the state’s economy is strong.
The governor also wants to ask lawmakers to strengthen the state’s reserve fund.
Hutchinson announced the budget cuts Friday. The governor says that reducing spending to achieve cuts to the state’s $5.2 billion budget would affect some agencies that are categorized in the Revenue Stabilization Act. The fiscal year ends June 30.
The Arkansas Department of Finance and Administration says state agencies will be able to absorb the cuts by not getting full funding for programs and projects that aren’t essential or necessary.
Hutchinson says there won’t be any disruptions in services and no reductions in jobs. Despite the call for cuts, Hutchinson says the state’s economy is strong.
The governor also wants to ask lawmakers to strengthen the state’s reserve fund.
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