MSNBC.com
Associated Press
8/8/2011 6:18:40 PM ET
OKLAHOMA CITY— State officials deposited about $30 million more than anticipated into Oklahoma's constitutional reserve fund because of stronger-than-expected revenue collections, finance officials announced Monday.
A deposit of $249 million was put into the state's Rainy Day Fund, compared to last month's estimate of $219 million, Office of State Finance Director Preston Doerflinger said.
Doerflinger said the revised estimate was the result of a "final reconciliation of all sources contributing to the general revenue fund."
Money is placed into the constitutional reserve fund, also called the Rainy Day Fund, at the end of the fiscal year when general revenue collections exceed the official estimate. The fiscal year ended June 30... FULL ARTICLE
Posted on
Mon, August 8, 2011
by John Cox