By Roby Brock
The state ended its fiscal year slightly ahead of forecast, but below last year’s tax collections. The decline is the first annual decline since 2002 and one of the largest annual declines in decades, according to the state Department of Finance and Administration.
For the full fiscal year, net available general revenues totaled $4.43 billion. The amount is $23.7 million, or 0.5 percent, above forecast. The final tabulation is also $94.5 million or 2.1 percent below last year.
DF&A officials said that individual income and gross receipts (which include sales and use taxes) were lower during the year. Corporate income taxes, alcohol taxes and tobacco taxes were all higher.
Lincoln says health care bill could emerge next week
U.S. Sen. Blanche Lincoln, D-Ark., said she expects that a draft bill or major outline of a health care reform bill will greet senators when they return to Washington, D.C., after the July 4th recess.
“I really think the bill for the finance committee will be out next week toward the latter half of the week,” Lincoln predicted.
She said it would then start the process of mark-ups and potential amendments.
“I think when we get back you’ll see a product out of the committee in a form that’s more explanatory,” the senator said.
Lincoln also welcomed Wal-Mart’s announcement this week that it supported an employer mandate for health care coverage.
“I support employers taking a piece of the responsibility,” she said. “I think it can be a part of the solution, yes.”
Lottery commission approves Powerball invite
The Arkansas Lottery Commission accepted the recommendation of its new director and unanimously approved the state joining the Powerball lottery system. Powerball is a multi-state lottery that accumulates jackpot prizes in the hundreds of millions of dollars.
Arkansas would join Powerball after its scratch-off ticket sales begin in late October. No hard date was set for joining the multi-state lottery, although December was discussed.
Fort Smith nursing home group sells Arkansas operations
Fort Smith-based Golden Living, the private company that bought Beverly Enterprises, sold its 14 Arkansas nursing home operations to SeniorCare Ventures. SeniorCare is owned by Baltimore, Md.-based Capital Funding Group.
Financial details of the deal were not disclosed. Golden Living’s headquarters in Fort Smith was not part of the transaction.
LR research park could occupy 12th Street corridor
Little Rock Chamber of Commerce officials and consultants from ANGLE Technology briefed city board members on their community analysis for a potential research park, which includes three possible sites in the city’s mid-town corridor.
The park would seek to capitalize on research being conducted at UALR, UAMS and Arkansas Children’s Hospital. ANGLE consultants said that a portion of the proposed 30-acre campus could be developed and open for business by early 2013 with the right mixture of community support and funding.
Innerplan sells to NWA businessmen
Office furniture dealer Innerplan has been sold to Northwest Arkansas businessmen Roger and Tim McMennamy for an undisclosed sum. Privately held Innerplan’s founder and chairman Jim Narup will remain on the board of directors. Innerplan is a 30-year old company based in Maumelle employing 24 workers.
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Roby Brock, a freelance journalist based in Little Rock, writes weekly for the Arkansas News Bureau. His weekly television program airs at 10 p.m. Sundays in Central and Northwest Arkansas. His e-mail address is roby@talkbusiness.net; his Web site address is www.talkbusiness.net.
