Oklahoma City, OK – OKLAHOMA CITY (AP) State tax collections were down again last month.
Treasurer Scott Meacham said Tuesday collections by the general revenue fund in December totaled $402.3 million. That is $165.1 million, or 29.1 percent, below the prior year's collections and $178.6 million, or 30.7 percent, below the official estimate.
Meacham says collections have now fallen below prior year collections and the estimate every month for the past year. But December's revenue will be enough to pay for state agency operations after their allocations are cut 10 percent.
Officials ordered 5 percent across-the-board state agency budget cuts in August to cope with declining revenue and later extended the cuts through the June 30 end of the fiscal year. The cuts were doubled to 10 percent for December and January.