Arkansas Fiscal Statistics

StatisNostics/State Financials/Arkansas

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20122023

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State Revenue Analysis (Arkansas: 2012–2023)

Population: 2,949,300 → 3,025,891 (2.6% change)

Overall Revenue Trends

Total Revenue▲ 69.8%

$17,562,204,000 (2012)→$29,825,036,000 (2023)

Per Capita Revenue▲ 65.5%

$5,955 (2012)→$9,857 (2023)

Fund Balances▼ 100%

$6,331,848,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 5.0%

Major Tax Revenue

Property Tax▲ 41.2%

$1,008,707,000 (2012)→$1,424,090,000 (2023)

Sales Tax▲ 77.3%

$2,809,416,000 (2012)→$4,980,130,000 (2023)

Utility Revenue

Solid Waste Charges▲ 45.2%

$62,000 (2012)→$90,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Federal Intergovernmental Health & Hospitals▲ 835.4%

$136,595,000→$1,277,716,000

Interest Earnings▲ 258.4%

$123,248,000→$441,719,000

Amusement Tax▲ 233.0%

$27,640,000→$92,034,000

Declining/Slowest Growing Sources

Unemployment - Contribution▼ 78.7%

$438,132,000→$93,474,000

Local Intergovernmental Other▼ 51.2%

$301,000→$147,000

Federal Intergovernmental Other▼ 27.1%

$490,582,000→$357,532,000

Revenue Forecast

Projected Revenue (Next Year)▲ 5.8%

Estimated: $31,545,141,911

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare20.3%

Total General Sales Taxes16.0%

Individual Income Tax13.7%

Property Tax5.7%

Federal Intergovernmental Education5.3%

Hospital Charges5.1%

Higher Education Tuition Charges3.5%

Federal Intergovernmental Highways3.3%

Federal Intergovernmental Other2.8%

Motor Fuels Sales Tax2.7%

Unemployment - Contribution2.5%

Corporation Net Income Tax2.3%

Miscellaneous General Revenue Not Elsewhere Classified1.9%

Tobacco Sales Tax1.4%

Higher Education Auxiliary Charges1.4%

Donations From Private Sources1.3%

Other Selective Sales Taxes1.3%

All Other Not Elsewhere Classified Charges1.2%

Insurance Premium Tax0.9%

Motor Vehicle License0.9%

Federal Intergovernmental Health & Hospitals0.8%

Net Lottery Revenue0.7%

Occupation & Business License Not Elsewhere Classified0.7%

Interest Earnings0.7%

Federal Intergovernmental Employment Security Administration0.6%

Severance Tax0.5%

Federal Intergovernmental Other Natural Resources0.3%

Federal Intergovernmental Housing & Community Development0.3%

Alcoholic Beverage Sales Tax0.3%

Amusement Tax0.2%

Documentary & Stock Transfer Tax0.1%

Corporation License Tax0.1%

Parks & Recreation Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Taxes Not Elsewhere Classified0.1%

Hunting & Fishing License0.1%

Workers Compensation - Other Contributions0.1%

Motor Vehicle Operators License0.1%

Fines & Forfeits0.1%

Federal Intergovernmental Sewerage0.1%

Federal Intergovernmental Water Utilities0.1%

Public Utility License Tax0.1%

Local Intergovernmental Education0.0%

Sale of Property0.0%

Regular Highway Charges0.0%

Alcoholic Beverage License Tax0.0%

Parimutuels Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Royalties0.0%

Workers Compensation - Interest Earnings0.0%

Other License Tax0.0%

Local Intergovernmental Health & Hospitals0.0%

Amusement License Tax0.0%

Local Intergovernmental Other0.0%

Housing & Community Development Charges0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Solid Waste Charges0.0%

Air Transportation Charges0.0%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare27.1%

Total General Sales Taxes16.7%

Individual Income Tax10.6%

Property Tax4.8%

Hospital Charges4.5%

Federal Intergovernmental Health & Hospitals4.3%

Federal Intergovernmental Education3.9%

Higher Education Tuition Charges3.6%

Federal Intergovernmental Highways3.2%

Corporation Net Income Tax2.8%

Miscellaneous General Revenue Not Elsewhere Classified2.6%

Motor Fuels Sales Tax2.0%

Interest Earnings1.5%

Insurance Premium Tax1.3%

Higher Education Auxiliary Charges1.2%

Federal Intergovernmental Other1.2%

Other Selective Sales Taxes1.1%

Donations From Private Sources1.0%

All Other Not Elsewhere Classified Charges0.9%

Tobacco Sales Tax0.7%

Motor Vehicle License0.6%

Net Lottery Revenue0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Federal Intergovernmental Employment Security Administration0.4%

Severance Tax0.3%

Unemployment - Contribution0.3%

Amusement Tax0.3%

Federal Intergovernmental Other Natural Resources0.3%

Alcoholic Beverage Sales Tax0.3%

Taxes Not Elsewhere Classified0.2%

Documentary & Stock Transfer Tax0.2%

Federal Intergovernmental Housing & Community Development0.2%

Parks & Recreation Charges0.1%

Corporation License Tax0.1%

Hunting & Fishing License0.1%

Motor Vehicle Operators License0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Fines & Forfeits0.1%

Federal Intergovernmental Sewerage0.1%

Workers Compensation - Other Contributions0.1%

Unemployment - Interest Revenue0.1%

Public Utility License Tax0.0%

Local Intergovernmental Education0.0%

Regular Highway Charges0.0%

Sale of Property0.0%

Alcoholic Beverage License Tax0.0%

Workers Compensation - Interest Earnings0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Amusement License Tax0.0%

Royalties0.0%

Other License Tax0.0%

Housing & Community Development Charges0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Local Intergovernmental Other0.0%

Elementary Secondary Education School Lunch Charges0.0%

Solid Waste Charges0.0%

Air Transportation Charges0.0%

Key Insights

1Total revenue increased by 69.8% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 2.6%, while per-capita revenue changed by 65.5%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Arkansas: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 185%

$6,129,035,000→$17,491,481,000

Per Capita Spending▲ 178%

$2,078→$5,781

Population Trends

Population Change▲ 2.6%

2,949,300 (2012)→3,025,891 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 22%

$111,890,000 (2012)→$136,790,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 22%

$357,883,000 (2012)→$435,075,000 (2023)

Sewerage Operations▲ 171%

$252,000 (2012)→$684,000 (2023)

Administrative Expenses

Financial Administration▲ 56%

$469,109,000 (2012)→$729,944,000 (2023)

General Expenses▼ 1%

$173,811,000 (2012)→$172,786,000 (2023)

Arkansas Key Insights

1Per capita expenditures grew by 178%, indicating substantial service expansion or cost increases not explained by population growth alone
2Sewerage was the fastest growing major expense category at 171% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 174%

$2,843,740,000 (2012)→$7,792,422,000 (2023)

Industrial Revenue Debt▼ 100%

$811,987,000 (2012)→$0 (2023)

Per Capita Debt▲ 167%

$964 (2012)→$2,575 (2023)

Population Trends

Population Change▲ 2.6%

2,949,300 (2012)→3,025,891 (2023)

Debt Management

Most Recent Year (2023)

Issued:$910,776,000

Retired:$658,249,000

Net Change:+$252,527,000

Debt Retirement Trend

$347,495,000 → $658,249,000▲ 89%

🔄 Significant change in retirement strategy detected

Key Insights

1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
2There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward higher debt levels.
3New debt issuance significantly increased the per-resident debt burden (up 167%).