Arkansas among most improved in Nation in Fiscal Health Rankings
Mercatus Center study spotlights state’s economic stability
PROVIDENCE, Rhode Island — A newly released study shows that Arkansas’ fiscal health was among the most-improved in the nation and recognizes Arkansas’ “commitment to strong, conservative fiscal policies,” Governor Asa Hutchinson said Friday from the summer meeting of the National Governor’s Association.
Arkansas’ fiscal health ranked 20th in the 2017 edition of George Mason University’s Mercatus Center study, Ranking the States by Fiscal Condition. That is an improvement of eight positions from the state’s previous ranking of 28. The authors of the study said that Arkansas holds nearly four times the cash it needs to cover short-term obligations, which is higher than the 50-state average. Revenues exceeded expenses by 4 percent, according to the report.
“I was encouraged to read in the Mercatus Center’s rankings that Arkansas’ fiscal health is among the most-improved,” Governor Hutchinson said. “This is good news for the state and well-deserved recognition of our commitment to strong, conservative fiscal policies. Arkansas is a true balanced-budget state, and our approach to setting budgets and limiting spending bears that out.”
Hutchinson noted that the report actually omits even more good news.
“The report, which covers 2015, does not include many of the positive steps we have taken over the past 18 months, including the transfer of more than $100 million into a longterm reserve fund,” said the governor. “Arkansas already has improved over this report, but we aren’t resting there. We still have work to do and will continue to look for ways to increase efficiency and streamline state government.”
From the Arkansas Governor’s Office