LITTLE ROCK, Ark. — Arkansas has seen a surplus budget of billions for the past three years.
After the special session, the state legislature decided where this year's money was going. Some will be in reserve funds for emergency use, and some will return to the community.
"For the last 50-plus months, we've exceeded our forecast every single month," said Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration.
This 2023 fiscal year was the second-largest budget surplus in state history. There were $1.16 billion extra this year.
The budget is made of the state income tax and sales tax.
So, where does your money go when there's more than the budget calls for?
The Catastrophic Reserve Fund has a balance of $1.52 billion, which is only used in emergencies.
"If there's a revenue shortfall and revenue collection doesn't meet our needs, that's when that's used," Hardin said. "Worst-case scenario, that money just stays there."
The General Assembly created a new Reserve Fund with $710 million this year.
However, $1.47 billion is going back to the community. Through the Restricted Reserve Fund, money will go towards educational facilities, economic development, the drug task force and the UAMS National Cancer Institute.
"School facilities in your community might be seeing improvements because of the money being distributed," Hardin said. "Correctional facilities are being improved. You have some of the teacher money within that. It's just a wide range of needs going throughout the state."