Tulsa World
By RANDY KREHBIEL World Staff Writer
Published: 9/15/2010 2:32 AM
Last Modified: 9/15/2010 4:58 AM
OKLAHOMA CITY - State general fund revenues showed a small gain in Agust from the same month a year ago and were in line with budget projections, state Treasurer Scott Meacham said Tuesday.
"August revenue collections continue to show growth over the prior year, and year-to-date collections remain above the prior year and estimate," he said. "Revenue growth, while still positive, slowed somewhat from what we had seen in prior months."
Total collections for August were $350.8 million - or 4.6 percent - more than August 2009 and $1.5 million - or 0.4 percent - less than projections.
Revenues for the first two months of the fiscal year that began July 1 are $48.9 million - or 7 percent - more than the same period a year ago.
The August uptick was caused by a 7 percent increase in sales-tax collections and a doubling of motor-vehicle tax revenues.
Net income tax - taxes collected minus refunds - was off 3 percent from a year ago and from the estimate. Gross-production taxes were down 22 percent from a year ago but were only 3 percent less than the estimate... FULL ARTICLE
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Wed, September 15, 2010
by Crystal Drwenski