Oklahoma Revenue Collections Improve in January
OKLAHOMA CITY (AP) — State finance officials say collections to Oklahoma government's main operating fund improved in January, lessening the chance that mandatory budget cuts will be ordered for the current fiscal year.
Figures released Tuesday by the Office of Management and Enterprise Services show January collections to the General Revenue Fund totaled $610 million. That amount is 6.5 percent above the official estimate used to build the current year's state budget.
Secretary of Finance Preston Doerflinger says the month's strong collections make it unlikely the state will face a revenue failure this year.
The General Revenue Fund is the primary source of funding the Legislature uses to spend on state services. Year-to-date collections to the fund are about 4.5 percent below the official estimate.