Thursday, December 2, 2010
After reviewing state revenues for the first five months of Fiscal Year 2011, Governor Mike Beebe has directed the Department of Finance and Administration to reinstate cost-of-living adjustments (COLAs), career-service recognitions and merit pay for Arkansas state employees.
"Going into this current budget, we froze state salaries out of an abundance of caution to see how our economy would recover," Governor Beebe said. "After seeing the strength of our economic indicators and remaining ahead of forecast for the year so far, I've decided to reinstate the COLA for our employees."
The COLAs are already built into the current budget and will not impact the funding of any state services or require any budget increases. Career-service recognitions and merit pay are funded through salary savings within existing agency budgets.