State House and Senate committees have agreed on a proposal to increase Arkansas’ support of public education by almost $60 million in fiscal 2012.
The panels voted last week to increase allocations to local districts by 2% to 2.4% in the next fiscal year to account for inflation.
The fiscal 2011 budget appropriates $2.76 billion to local education.
The Joint Adequacy Evaluation Oversight Subcommittee voted in August to recommend an increase in spending by 2.5%, or about $70 million a year.
However, the recommendation was withdrawn until lawmakers could obtain additional information on the projected inflation rate from the Department of Finance and Administration.
DFA director Richard Weiss estimated inflation at 1.86%, but the lawmakers opted for an inflation rate of at least 2%.
The finance department next week will issue an official forecast for state revenues over the next two fiscal years.
The General Assembly will convene Jan. 11.