There are many ways to structure your business in order to maximize profit. Deciding on that first is crucial. It is also important to have a well-organized, orderly, and systematic approach. The right balance of financial and administrative tools to allow you to successfully execute your goals is important.
Department of Finance and Administration (DF&A) is an agency within the Arkansas Department of Finance and Administration. The agency does a variety of different functions. One of them is creating and managing financial projections. The other is setting and enforcing the rules that govern how Arkansas businesses operate. DFA has been in operation for well over 100 years.
Just the other day, Governor Mike Beebe, Secretary of Finance and Administration, and the Commissioner of Finance and Administration made a visit to the State Capitol to sign a new fiscal year budget. The result is that Arkansas will now be debt-free.
We were able to get a sneak peak at department of finance and administration’s new budget, which is really great for a state that has been struggling to pay its bills since before Christmas. The budget doesn’t have any new plans for the budget’s $2 billion shortfall, but it does commit Arkansas to spending $3 billion in the next biennium and $2.4 billion in the next biennium.
The budget is a $1 billion project, but if you want to go the extra mile to get a full report and be sure to send it to the State Department of Finance, then you have to send that to the State Department of Administration. If you’re going to do so, then you can do it to the State Department of Administration.
To be honest, I don’t know what the exact budget is for Arkansas. I know it’s not much different from last biennium, but I’m not sure that I like the 3 billion figure. I’d have to see the full annual budget, but I’m guessing it’s more like 2.4 billion. Not sure if that’s good news or bad news.
Well actually, as you can imagine, since we don’t have a full budget, we don’t have the full annual budget either. But the good news is that we do have a full budget for general government expenses. The bad news is that our general government expenses are higher than average. Most state expenditures are higher than they should be. We’re the only state in the South that has the “Taxation Dividend” (i.e.
the income tax that allows us to pay off our debt.
The Taxation Dividend is a state-imposed tax that is meant to provide an overall fiscal budget for the state. It is calculated by comparing the state’s “income” to a benchmark. So if there is a surplus (more money coming in than going out) and the state budget is balanced, the Taxation Dividend is zero.
While the Taxation Dividend is a tax, the amount of money in the state budget is not. It’s a money spent by the state for other states to spend more money on their own. This includes the state budget, which is to pay for education, infrastructure, health, and medical services. Since it’s money spent on education, health, and infrastructure, the state budget should be balanced.