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State government's steady general revenue growth continues

State government's steady general revenue growth continues

Tulsa World
By Randy Krehbiel Tulsa World  
Updated May 16, 2018  

OKLAHOMA CITY — Oklahoma state government’s financial outlook continued improving in April as deposits to the general revenue fund exceeded expectations by 14 percent, the Office of Management and Enterprise Services said Tuesday.

“After some tough years I’m encouraged to see our economy showing some real resilience,” said OMES Director Denise Northrup. “If we continue to see positive returns, I’m hopeful we can replenish the Rainy Day Fund and restore some of the cuts agencies have experienced the past few years.”

The state’s constitutional reserve, or Rainy Day Fund, has been depleted in recent years by persistent revenue shortfalls. Through 10 months of fiscal year 2018, though, general revenue is 5.2 percent above the estimate on which the current state budget is built, and 15.1 percent ahead of the same period a year ago. Revenue in excess of the estimate at the end of the budget year on June 30 is deposited into the Rainy Day fund... FULL ARTICLE

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