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General fund revenues near projections

General fund revenues near projections



Published: 5/11/2010 1:52 PM
Last Modified: 5/11/2010 7:39 PM

OKLAHOMA CITY — Lagging income tax collections kept state general fund revenues in the red during April, Treasurer Scott Meacham said Tuesday.

The $512.3 million in total revenues collected last month was almost exactly even with April 2009 and 5 percent less than the official estimate. It was slightly more than February’s revised estimate.

“Earlier this fiscal year, monthly collections were falling more than 30 percent below prior year collections and the estimate,” Meacham said. “It appears the state turned a corner in February and, in spite of slightly lower income tax numbers in April, we believe that trend continues.”

The revenue report leaves the state $808.5 million short of the estimate for fiscal year 2010, which ends on June 30, and comes as Meacham, acting on behalf of the administration, tries to negotiate a 2011 budget agreement with legislative leadership... FULL ARTICLE


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