Tulsa World
by: BARBARA HOBEROCK World Capitol Bureau
Tuesday, July 12, 2011
7/12/2011 5:24:50 AM
OKLAHOMA CITY - The state will make a $219 million deposit into the "rainy day fund," Office of State Finance Director Preston Doerflinger said Monday. The fund now contains $2.03.
"It will be the largest deposit into our constitutional reserve fund since the end of the 2005 fiscal year," Doerflinger said. "And while we will likely face a tight budget again next year, this enhances stabilization of Oklahoma's overall revenue situation."
June marked the end of fiscal year 2011. It was the strongest revenue month of the year.
Preliminary estimates show that general revenue fund collections for June were $576 million, an increase of 15.7 percent from the previous year and 13 percent greater than the estimate.
"This month's revenue report is one more sign that things are trending up in Oklahoma," said Gov. Mary Fallin. "It is great news that tax revenues continue to climb, unemployment is ticking down and the state is quickly replenishing its rainy day fund." FULL ARTICLE
Posted on
Tue, July 12, 2011
by John Cox