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State Finances Look Better Than Reality

Preston Doerflinger

 

Oklahoma's secretary of finance says revenue received by the state's chief operating fund was higher than the official estimate last month, but not as high as they appear.

Finance Secretary Preston Doerflinger said Tuesday a change in the payment date for a higher education scholarship fund caused receipts to the general revenue fund appear to rise 8.3 percent above the estimate for February.

Collections in February totaled $248 million and total collections for the first eight months of the fiscal year are $3.1 billion, or 2 percent below the estimate.

Without the change, Doerflinger says monthly revenues would be up just 1.5 percent from the February estimate. He says that year-to-date collections would actually be 2.5 percent below the estimate, rather than 2 percent.