Oklahoma's general fund collections recorded double-digit growth in December and for the first six months of this fiscal year, according to reports released Tuesday.
NewsOK
BY MICHAEL MCNUTT mmcnutt@opubco.com
Published: January 10, 2012
State general fund collections recorded double-digit growth in December and for the first six months of this fiscal year, according to reports released Tuesday.
All major categories of revenue collections were up by double digits in December, except sales taxes, according to revenue reports issued by the state finance office.
Sales tax collections produced $153.5 million, or 5.7 percent more than a year ago, but came in below estimates. Sales tax collections for December came in 0.4 percent below projections. The sales tax collections covered actual and estimated sales for the last 15 days of November and the first 15 days of December.
“More Oklahomans had jobs this Christmas than in 2010,” state Finance Director Preston Doerflinger said. “But the sales tax figures for the first part of the holiday shopping period indicate our citizens were prudent in their spending, just as we need to be in state government as we move to modernize our agencies and systems for delivering services. We still face a difficult task in building a budget for the upcoming legislative session.” FULL ARTICLE
Posted on
Tue, January 10, 2012
by John Cox